Everi Holdings Inc. (NYSE:EVRI) Sees Significant Drop in Short Interest

Everi Holdings Inc. (NYSE:EVRI) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,200,000 shares, a drop of 7.8% from the November 15th total of 3,470,000 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average daily volume of 615,100 shares, the days-to-cover ratio is currently 5.2 days.

Insider Buying and Selling at Everi

In other Everi news, Director Geoffrey P. Judge sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $13.50, for a total value of $54,000.00. Following the completion of the transaction, the director now directly owns 91,572 shares in the company, valued at approximately $1,236,222. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark F. Labay sold 50,000 shares of Everi stock in a transaction on Monday, November 25th. The stock was sold at an average price of $13.38, for a total transaction of $669,000.00. Following the transaction, the chief financial officer now owns 142,426 shares in the company, valued at approximately $1,905,659.88. This trade represents a 25.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,476 shares of company stock worth $3,435,636. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everi

Several institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its stake in Everi by 2,428.6% during the 2nd quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock worth $27,000 after buying an additional 3,060 shares during the period. CWM LLC increased its holdings in shares of Everi by 117.5% during the second quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 1,897 shares in the last quarter. Huntington National Bank raised its position in shares of Everi by 1,296.2% during the third quarter. Huntington National Bank now owns 5,892 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 5,470 shares during the period. Quarry LP lifted its holdings in shares of Everi by 38.9% in the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after purchasing an additional 2,864 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Everi in the 2nd quarter valued at $104,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Everi Trading Up 0.3 %

Everi stock traded up $0.04 during trading hours on Tuesday, reaching $13.50. 454,244 shares of the company’s stock were exchanged, compared to its average volume of 1,317,193. The firm’s 50 day simple moving average is $13.37 and its 200 day simple moving average is $11.80. Everi has a twelve month low of $6.37 and a twelve month high of $13.50. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The firm has a market capitalization of $1.16 billion, a PE ratio of 90.00 and a beta of 2.07.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Everi in a research note on Thursday, December 12th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Everi currently has an average rating of “Hold” and an average price target of $12.88.

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.