Everi Holdings Inc. (NYSE:EVRI) Sees Large Growth in Short Interest

Everi Holdings Inc. (NYSE:EVRI) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 3,060,000 shares, an increase of 6.3% from the August 31st total of 2,880,000 shares. Approximately 3.7% of the company’s stock are sold short. Based on an average trading volume of 2,180,000 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analyst Weigh In

Several research firms have weighed in on EVRI. Truist Financial cut their target price on Everi from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. StockNews.com initiated coverage on Everi in a report on Tuesday. They issued a “hold” rating for the company. Raymond James reiterated a “market perform” rating on shares of Everi in a report on Monday, July 29th. Stifel Nicolaus restated a “hold” rating and issued a $14.25 price objective (up from $11.00) on shares of Everi in a research note on Wednesday, July 31st. Finally, B. Riley raised their target price on shares of Everi from $11.00 to $14.25 and gave the company a “neutral” rating in a research note on Monday, August 5th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Everi has an average rating of “Hold” and a consensus target price of $13.50.

Everi Price Performance

Shares of EVRI stock remained flat at $13.15 during trading hours on Tuesday. The stock had a trading volume of 879,914 shares, compared to its average volume of 1,532,367. Everi has a one year low of $6.37 and a one year high of $13.35. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 3.94. The company has a market capitalization of $1.11 billion, a PE ratio of 20.22 and a beta of 2.15. The business’s fifty day simple moving average is $12.78 and its two-hundred day simple moving average is $9.92.

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

Insider Activity

In related news, EVP Darren Simmons sold 75,000 shares of Everi stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.10, for a total transaction of $982,500.00. Following the completion of the sale, the executive vice president now owns 190,425 shares of the company’s stock, valued at $2,494,567.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Darren Simmons sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total transaction of $982,500.00. Following the transaction, the executive vice president now owns 190,425 shares of the company’s stock, valued at $2,494,567.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kate C. Lowenhar-Fisher sold 12,026 shares of Everi 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 $155,736.70. Following the completion of the sale, the executive vice president now owns 68,477 shares of the company’s stock, valued at $886,777.15. The disclosure for this sale can be found here. Insiders have sold a total of 131,417 shares of company stock worth $1,713,281 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Everi

Several hedge funds have recently made changes to their positions in the stock. CWM LLC increased its stake in Everi by 117.5% during the second quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 1,897 shares during the period. Oxford Financial Group LTD. LLC increased its position in shares of Everi by 4.3% during the first quarter. Oxford Financial Group LTD. LLC now owns 48,420 shares of the credit services provider’s stock valued at $487,000 after purchasing an additional 2,000 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Everi by 4.6% in the second quarter. SummerHaven Investment Management LLC now owns 53,078 shares of the credit services provider’s stock valued at $446,000 after purchasing an additional 2,347 shares in the last quarter. Quarry LP lifted its position in 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 purchasing an additional 2,864 shares during the period. Finally, Signaturefd LLC lifted its position in Everi by 2,428.6% in 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. 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.