Everi Holdings Inc. (NYSE:EVRI) Short Interest Update

Everi Holdings Inc. (NYSE:EVRI) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 2,920,000 shares, a decline of 8.8% from the November 30th total of 3,200,000 shares. Based on an average daily trading volume, of 586,400 shares, the days-to-cover ratio is currently 5.0 days. Currently, 3.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Everi in a report on Saturday. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Everi presently has an average rating of “Hold” and an average price target of $12.88.

Insiders Place Their Bets

In other Everi news, EVP David Lucchese sold 45,476 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.48, for a total value of $613,016.48. Following the transaction, the executive vice president now directly owns 542,928 shares of the company’s stock, valued at approximately $7,318,669.44. This trade represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Geoffrey P. Judge sold 16,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $13.37, for a total transaction of $213,920.00. Following the sale, the director now directly owns 91,572 shares of the company’s stock, valued at $1,224,317.64. The trade was a 14.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,476 shares of company stock valued at $3,435,636. 6.40% of the stock is owned by insiders.

Institutional Trading of Everi

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC lifted its holdings in Everi by 85.3% in the 2nd quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock worth $23,400,000 after purchasing an additional 1,282,682 shares in the last quarter. Glazer Capital LLC bought a new stake in shares of Everi during the third quarter valued at approximately $33,507,000. Alpine Associates Management Inc. bought a new position in shares of Everi during the third quarter worth $24,815,000. Geode Capital Management LLC increased its holdings in Everi by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,860,321 shares of the credit services provider’s stock valued at $24,450,000 after acquiring an additional 27,670 shares during the last quarter. Finally, Westchester Capital Management LLC purchased a new stake in Everi in the 3rd quarter worth $16,662,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Everi Stock Performance

Shares of NYSE:EVRI traded up $0.03 during mid-day trading on Wednesday, reaching $13.51. 379,877 shares of the company traded hands, compared to its average volume of 1,291,901. The company’s 50 day moving average price is $13.43 and its 200-day moving average price is $12.26. The firm has a market cap of $1.17 billion, a PE ratio of 90.07 and a beta of 2.07. Everi has a 52 week low of $6.37 and a 52 week high of $13.53. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97.

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.