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

StockNews.com initiated coverage on shares of Everi (NYSE:EVRI) in a research note released on Saturday. The brokerage issued a hold rating on the credit services provider’s stock.

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

Everi Stock Performance

NYSE EVRI opened at $13.05 on Friday. Everi has a fifty-two week low of $6.37 and a fifty-two week high of $15.13. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.95 and a current ratio of 1.05. The firm has a market capitalization of $1.10 billion, a P/E ratio of 20.08 and a beta of 2.19. The stock has a 50-day simple moving average of $11.31 and a two-hundred day simple moving average of $9.59.

Everi (NYSE:EVRI) last announced its quarterly earnings results on Wednesday, August 7th. The credit services provider reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. Everi had a return on equity of 17.86% and a net margin of 5.42%. The company had revenue of $191.19 million during the quarter, compared to analysts’ expectations of $190.00 million. On average, equities analysts forecast that Everi will post 0.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kate C. Lowenhar-Fisher sold 12,026 shares of Everi stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $12.95, for a total value of $155,736.70. Following the sale, the executive vice president now owns 68,477 shares in the company, valued at $886,777.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP David Lucchese sold 4,124 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $12.99, for a total transaction of $53,570.76. Following the completion of the sale, the executive vice president now directly owns 588,404 shares in the company, valued at $7,643,367.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kate C. Lowenhar-Fisher sold 12,026 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 68,477 shares in the company, valued at approximately $886,777.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,417 shares of company stock worth $730,781. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Everi

Large investors have recently modified their holdings of the business. Clearbridge Investments LLC lifted its stake in shares of Everi by 85.3% in the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock worth $23,400,000 after buying an additional 1,282,682 shares in the last quarter. Quarry LP lifted its stake in Everi by 38.9% in the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after purchasing an additional 2,864 shares in the last quarter. Creative Planning lifted its stake in Everi by 528.2% in the 2nd quarter. Creative Planning now owns 65,041 shares of the credit services provider’s stock worth $546,000 after purchasing an additional 54,687 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Everi by 815.1% during the 2nd quarter. Algert Global LLC now owns 159,964 shares of the credit services provider’s stock worth $1,344,000 after purchasing an additional 142,484 shares during the last quarter. Finally, Long Pond Capital LP purchased a new stake in shares of Everi in the second quarter valued at approximately $4,453,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.