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

StockNews.com initiated coverage on shares of Everi (NYSE:EVRI) in a report issued on Wednesday. The firm issued a hold rating on the credit services provider’s stock.

A number of other research analysts also recently commented on the stock. B. Riley boosted their price objective on shares of Everi from $11.00 to $14.25 and gave the company a neutral rating in a research report on Monday, August 5th. 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 target price (up previously from $11.00) on shares of Everi in a research note on Wednesday, July 31st. Finally, 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. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Everi presently has a consensus rating of Hold and an average target price of $13.50.

Everi Price Performance

Shares of NYSE:EVRI opened at $12.94 on Wednesday. The company’s fifty day moving average is $9.84 and its two-hundred day moving average is $9.36. The company has a market cap of $1.09 billion, a P/E ratio of 19.91 and a beta of 2.19. Everi has a 12-month low of $6.37 and a 12-month high of $15.13. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 4.18.

Everi (NYSE:EVRI) last posted 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 30.41% and a net margin of 7.59%. The firm had revenue of $191.19 million for the quarter, compared to analyst estimates of $190.00 million. Equities analysts expect that Everi will post 0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David Lucchese sold 4,124 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $12.99, for a total transaction of $53,570.76. Following the transaction, the executive vice president now owns 588,404 shares of the company’s stock, valued at approximately $7,643,367.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP David Lucchese sold 4,124 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $12.99, for a total value 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Randy L. Taylor sold 29,222 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 transaction of $378,424.90. Following the completion of the transaction, the chief executive officer now owns 794,822 shares in the company, valued at $10,292,944.90. The disclosure for this sale can be found here. Insiders sold 58,036 shares of company stock valued at $742,632 over the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Trading of Everi

Hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its holdings in shares of Everi by 2.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 49,848 shares of the credit services provider’s stock worth $562,000 after buying an additional 998 shares during the last quarter. CWM LLC boosted its holdings in Everi by 117.5% in the 2nd quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 1,897 shares during the period. Oxford Financial Group LTD. LLC grew its position in Everi by 4.3% in the 1st quarter. Oxford Financial Group LTD. LLC now owns 48,420 shares of the credit services provider’s stock worth $487,000 after purchasing an additional 2,000 shares during the last quarter. Quarry LP increased its holdings in shares of Everi by 38.9% during 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 during the period. Finally, Signaturefd LLC raised its position in shares of Everi by 2,428.6% during the second quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock valued at $27,000 after buying an additional 3,060 shares during the last quarter. 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.