StockNews.com Initiates Coverage on Everi (NYSE:EVRI)

Equities researchers at StockNews.com started coverage on shares of Everi (NYSE:EVRI) in a report issued on Thursday. The brokerage set a “hold” rating on the credit services provider’s stock.

EVRI has been the topic of a number of other reports. Raymond James restated a “market perform” rating on shares of Everi in a research note on Monday, July 29th. Stifel Nicolaus reiterated a “hold” rating and set a $14.25 price target (up from $11.00) on shares of Everi in a research report on Wednesday, July 31st. Truist Financial lowered their price target on shares of Everi from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Finally, B. Riley increased their price target on shares of Everi from $11.00 to $14.25 and gave the stock a “neutral” rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.50.

Everi Trading Down 0.2 %

Shares of Everi stock opened at $13.29 on Thursday. Everi has a 52-week low of $6.37 and a 52-week high of $13.39. The stock’s 50-day simple moving average is $13.09 and its 200 day simple moving average is $10.25. The stock has a market capitalization of $1.12 billion, a P/E ratio of 20.45 and a beta of 2.15. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.95 and a current ratio of 1.05.

Everi (NYSE:EVRI) last announced its quarterly earnings data on Wednesday, August 7th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. Everi had a return on equity of 17.86% and a net margin of 5.42%. The business had revenue of $191.19 million for the quarter, compared to analysts’ expectations of $190.00 million. As a group, research analysts anticipate that Everi will post 0.49 EPS for the current year.

Insider Transactions at Everi

In related news, EVP Darren Simmons sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total value of $982,500.00. Following the transaction, the executive vice president now directly owns 190,425 shares in the company, valued at approximately $2,494,567.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Darren Simmons sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total value of $982,500.00. Following the transaction, the executive vice president now directly owns 190,425 shares in the company, valued at approximately $2,494,567.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Randy L. Taylor sold 29,222 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $12.95, for a total transaction of $378,424.90. Following the completion of the transaction, the chief executive officer now owns 794,822 shares in the company, valued at approximately $10,292,944.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,417 shares of company stock valued at $1,713,281. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Creative Planning grew its position in Everi by 11.9% during the third quarter. Creative Planning now owns 72,769 shares of the credit services provider’s stock valued at $956,000 after acquiring an additional 7,728 shares during the last quarter. SG Americas Securities LLC bought a new position in Everi during the third quarter valued at approximately $422,000. Clearbridge Investments LLC grew its position in Everi by 85.3% during the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock valued at $23,400,000 after acquiring an additional 1,282,682 shares during the last quarter. Quarry LP grew its position in Everi by 38.9% during the second quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock valued at $86,000 after acquiring an additional 2,864 shares during the last quarter. Finally, Algert Global LLC grew its position in Everi by 815.1% during the second quarter. Algert Global LLC now owns 159,964 shares of the credit services provider’s stock valued at $1,344,000 after acquiring an additional 142,484 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors.

About Everi

Everi Holdings Inc develops and supplies entertaining game content, gaming machines, and gaming systems and services for land-based and iGaming operators in the United States, Canada, and internationally. It operates in Games and Financial Technology Solutions segments. The company offers classic mechanical reel games and video reel games, as well as TournEvent of Champions, a national slot tournament; and sells gaming equipment and player terminals, licenses, game content, and ancillary equipment, such as signage and lighting packages.