Everi (NYSE:EVRI) Shares Gap Up to $9.14

Shares of Everi Holdings Inc. (NYSE:EVRI) gapped up before the market opened on Friday . The stock had previously closed at $9.14, but opened at $12.91. Everi shares last traded at $12.93, with a volume of 12,647,710 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Everi from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 9th. B. Riley started coverage on shares of Everi in a research note on Friday, April 5th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Truist Financial reduced their target price on shares of Everi from $11.00 to $10.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.40.

Everi Stock Performance

The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 4.18. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 20.00 and a beta of 2.19. The stock’s 50 day moving average is $7.99 and its 200 day moving average is $9.11.

Everi (NYSE:EVRI) last announced its earnings results on Wednesday, May 8th. The credit services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The company had revenue of $189.30 million for the quarter, compared to analyst estimates of $188.82 million. Everi had a net margin of 7.59% and a return on equity of 30.41%. Everi’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS. On average, analysts predict that Everi Holdings Inc. will post 0.66 earnings per share for the current year.

Insider Activity at Everi

In related news, CAO Todd A. Valli sold 15,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $8.05, for a total value of $120,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 49,440 shares in the company, valued at $397,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Everi news, CAO Todd A. Valli sold 15,000 shares of Everi stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $8.05, for a total value of $120,750.00. Following the transaction, the chief accounting officer now owns 49,440 shares in the company, valued at approximately $397,992. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Darren Simmons sold 45,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $8.07, for a total value of $363,150.00. Following the completion of the transaction, the executive vice president now directly owns 152,550 shares in the company, valued at $1,231,078.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,043 shares of company stock valued at $1,073,022. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Everi

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Everi by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 7,415,161 shares of the credit services provider’s stock valued at $74,522,000 after purchasing an additional 236,652 shares in the last quarter. Private Capital Management LLC grew its stake in shares of Everi by 19.8% in the first quarter. Private Capital Management LLC now owns 2,791,180 shares of the credit services provider’s stock valued at $28,051,000 after buying an additional 461,939 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Everi by 67.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock worth $20,841,000 after acquiring an additional 745,022 shares in the last quarter. Clearbridge Investments LLC grew its position in Everi by 2.2% in the first quarter. Clearbridge Investments LLC now owns 1,503,071 shares of the credit services provider’s stock valued at $15,106,000 after acquiring an additional 31,684 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its position in Everi by 2.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,424,894 shares of the credit services provider’s stock valued at $14,320,000 after acquiring an additional 30,780 shares in the last quarter. Hedge funds and other institutional investors 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.