Everi (NYSE:EVRI) Sees Large Volume Increase – Time to Buy?

Everi Holdings Inc. (NYSE:EVRI) saw unusually-high trading volume on Friday . Approximately 518,472 shares were traded during trading, an increase of 41% from the previous session’s volume of 366,781 shares.The stock last traded at $13.52 and had previously closed at $13.52.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Everi in a research report on Sunday. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.88.

Everi Price Performance

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 $1.17 billion, a price-to-earnings ratio of 90.21 and a beta of 2.07. The company has a fifty day moving average price of $13.43 and a two-hundred day moving average price of $12.33.

Insider Activity

In related news, Director Geoffrey P. Judge sold 16,000 shares of Everi stock in a transaction on Friday, November 15th. The shares were sold at an average price of $13.37, for a total value of $213,920.00. Following the transaction, the director now directly owns 91,572 shares in the company, valued at $1,224,317.64. This trade represents a 14.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Darren Simmons sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.46, for a total transaction of $673,000.00. Following the completion of the sale, the executive vice president now owns 140,425 shares of the company’s stock, valued at $1,890,120.50. This trade represents a 26.26 % 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 valued at $3,435,636. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank grew its stake in shares of Everi by 1,296.2% during the 3rd 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 grew its position in Everi by 38.9% during the second quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after buying an additional 2,864 shares during the period. Magnetar Financial LLC purchased a new position in Everi in the second quarter valued at about $104,000. Meeder Asset Management Inc. acquired a new stake in shares of Everi during the 2nd quarter valued at approximately $118,000. Finally, MQS Management LLC purchased a new stake in shares of Everi during the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.