Franklin Resources Inc. Raises Stock Holdings in Everi Holdings Inc. (NYSE:EVRI)

Franklin Resources Inc. raised its position in shares of Everi Holdings Inc. (NYSE:EVRI) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,542 shares of the credit services provider’s stock after purchasing an additional 2,564 shares during the quarter. Franklin Resources Inc.’s holdings in Everi were worth $550,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of Everi by 2,428.6% during the second quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock worth $27,000 after purchasing an additional 3,060 shares during the period. Huntington National Bank lifted its stake in Everi by 1,296.2% during the 3rd quarter. Huntington National Bank now owns 5,892 shares of the credit services provider’s stock valued at $77,000 after acquiring an additional 5,470 shares during the period. Quarry LP increased its stake in shares of Everi by 38.9% in the second quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after acquiring an additional 2,864 shares during the period. Magnetar Financial LLC purchased a new position in shares of Everi during the second quarter worth $104,000. Finally, Meeder Asset Management Inc. acquired a new position in Everi during the second quarter valued at $118,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Geoffrey P. Judge sold 16,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $13.37, for a total value of $213,920.00. Following the completion of the transaction, the director now directly owns 91,572 shares of the company’s stock, valued at approximately $1,224,317.64. This represents a 14.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael D. Rumbolz sold 50,000 shares of Everi stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $13.47, for a total transaction of $673,500.00. Following the sale, the chairman now directly owns 1,032,062 shares in the company, valued at approximately $13,901,875.14. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,476 shares of company stock worth $3,435,636 in the last quarter. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Everi Stock Down 0.1 %

EVRI stock opened at $13.48 on Tuesday. The firm’s fifty day moving average is $13.41 and its 200 day moving average is $12.17. The firm has a market cap of $1.16 billion, a PE ratio of 89.87 and a beta of 2.07. Everi Holdings Inc. has a one year low of $6.37 and a one year high of $13.53. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06.

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.