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

Equities researchers at StockNews.com began coverage on shares of Everi (NYSE:EVRI) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the credit services provider’s stock.

Several other research firms also recently commented on EVRI. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.25 price objective (up previously from $11.00) on shares of Everi in a research note on Wednesday, July 31st. B. Riley lifted 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. Truist Financial cut their price target on Everi from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Finally, Raymond James restated a “market perform” rating on shares of Everi in a research report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Everi Stock Performance

EVRI stock opened at $13.33 on Friday. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.05 and a quick ratio of 0.95. Everi has a 1 year low of $6.37 and a 1 year high of $13.40. The company has a market cap of $1.15 billion, a P/E ratio of 28.36 and a beta of 2.13. The stock’s fifty day moving average price is $13.17 and its 200-day moving average price is $10.56.

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

Insider Activity at Everi

In other Everi news, CFO Mark F. Labay sold 10,645 shares of Everi stock in a transaction on Friday, August 9th. The shares were sold at an average price of $12.95, for a total value of $137,852.75. Following the completion of the transaction, the chief financial officer now directly owns 192,426 shares of the company’s stock, valued at $2,491,916.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Darren Simmons sold 75,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total value of $982,500.00. Following the sale, the executive vice president now owns 190,425 shares of the company’s stock, valued at approximately $2,494,567.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark F. Labay sold 10,645 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $12.95, for a total transaction of $137,852.75. Following the completion of the sale, the chief financial officer now owns 192,426 shares of the company’s stock, valued at $2,491,916.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,417 shares of company stock valued at $1,713,281. Insiders own 6.40% of the company’s stock.

Institutional Trading of Everi

Several institutional investors and hedge funds have recently made changes to their positions in EVRI. Olympiad Research LP purchased a new stake in shares of Everi in the third quarter valued at approximately $1,500,000. Helikon Investments Ltd bought a new position in shares of Everi during the 3rd quarter worth $220,000. GAM Holding AG purchased a new position in shares of Everi during the third quarter valued at $197,000. Creative Planning raised its holdings in shares of Everi by 11.9% in the third quarter. Creative Planning now owns 72,769 shares of the credit services provider’s stock valued at $956,000 after acquiring an additional 7,728 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Everi in the third quarter worth about $422,000. 95.47% of the stock is currently owned by institutional investors.

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.