Everi Holdings Inc. (NYSE:EVRI) Stock Position Lowered by Raymond James & Associates

Raymond James & Associates lessened its position in Everi Holdings Inc. (NYSE:EVRI) by 38.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,213 shares of the credit services provider’s stock after selling 78,752 shares during the quarter. Raymond James & Associates owned approximately 0.15% of Everi worth $1,434,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVRI. ArrowMark Colorado Holdings LLC purchased a new stake in Everi in the 1st quarter worth approximately $17,158,000. Marshall Wace LLP purchased a new stake in Everi in the 2nd quarter worth approximately $12,563,000. Ameriprise Financial Inc. lifted its position in Everi by 205.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,151,764 shares of the credit services provider’s stock worth $15,226,000 after buying an additional 775,012 shares in the last quarter. American Century Companies Inc. lifted its position in Everi by 36.4% in the 3rd quarter. American Century Companies Inc. now owns 2,896,663 shares of the credit services provider’s stock worth $38,294,000 after buying an additional 772,860 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Everi by 9.4% in the 2nd quarter. BlackRock Inc. now owns 6,977,955 shares of the credit services provider’s stock worth $100,901,000 after buying an additional 599,505 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. B. Riley assumed coverage on shares of Everi in a research report on Friday, April 5th. They issued a “neutral” rating and a $12.00 target price for the company. Jefferies Financial Group restated a “hold” rating and set a $13.00 price target (down previously from $18.00) on shares of Everi in a research note on Friday, March 1st. Truist Financial restated a “hold” rating and set a $13.00 price target (down previously from $14.00) on shares of Everi in a research note on Friday, March 1st. Finally, StockNews.com lowered shares of Everi from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.60.

Everi Price Performance

NYSE:EVRI opened at $8.83 on Friday. The company has a 50-day moving average of $9.86 and a 200-day moving average of $10.65. The company has a market capitalization of $739.36 million, a price-to-earnings ratio of 9.81 and a beta of 2.05. Everi Holdings Inc. has a 52 week low of $8.67 and a 52 week high of $17.85. The company has a debt-to-equity ratio of 4.28, a quick ratio of 0.97 and a current ratio of 1.05.

Everi (NYSE:EVRI) last announced its quarterly earnings results on Thursday, February 29th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.19). Everi had a net margin of 10.40% and a return on equity of 42.93%. The firm had revenue of $192.00 million for the quarter, compared to the consensus estimate of $200.99 million. During the same period in the prior year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Everi Holdings Inc. will post 0.97 earnings per share for the current fiscal year.

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.