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

StockNews.com assumed coverage on shares of Everi (NYSE:EVRI) in a report released on Tuesday morning. The firm issued a hold rating on the credit services provider’s stock.

Other analysts have also recently issued reports about the stock. Raymond James reaffirmed a market perform rating on shares of Everi in a research note on Monday, July 29th. Truist Financial decreased their price objective on shares of Everi from $11.00 to $10.00 and set a hold rating on the stock in a research note on Thursday, July 18th. B. Riley upped their price objective on shares of Everi from $11.00 to $14.25 and gave the stock a neutral rating in a research note on Monday, August 5th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $14.25 price objective (up from $11.00) on shares of Everi in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of Hold and an average target price of $13.50.

Everi Price Performance

Shares of NYSE:EVRI opened at $13.15 on Tuesday. The company’s fifty day moving average is $12.78 and its 200-day moving average is $9.92. 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 has a 52 week low of $6.37 and a 52 week high of $13.35. The company has a market capitalization of $1.11 billion, a PE ratio of 20.22 and a beta of 2.15.

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

Insider Activity

In other news, CEO Randy L. Taylor sold 29,222 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $12.95, for a total transaction of $378,424.90. Following the sale, the chief executive officer now directly owns 794,822 shares of the company’s stock, valued at $10,292,944.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kate C. Lowenhar-Fisher sold 12,026 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $12.95, for a total value of $155,736.70. Following the transaction, the executive vice president now directly owns 68,477 shares in the company, valued at $886,777.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Randy L. Taylor sold 29,222 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 $10,292,944.90. The disclosure for this sale can be found here. Insiders have sold 131,417 shares of company stock valued at $1,713,281 over the last three months. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Everi

Several large investors have recently bought and sold shares of EVRI. Clearbridge Investments LLC lifted its holdings in Everi by 85.3% in 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 buying an additional 1,282,682 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Everi by 67.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock valued at $20,841,000 after buying an additional 745,022 shares during the period. Private Capital Management LLC lifted its holdings in Everi by 38.6% in the fourth quarter. Private Capital Management LLC now owns 2,329,241 shares of the credit services provider’s stock valued at $26,251,000 after buying an additional 648,696 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in Everi by 1,230.8% in the second quarter. Burgundy Asset Management Ltd. now owns 683,938 shares of the credit services provider’s stock valued at $5,745,000 after buying an additional 632,544 shares during the period. Finally, Breach Inlet Capital Management LLC acquired a new position in Everi in the fourth quarter valued at approximately $6,051,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Everi Company Profile

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.