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

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

EVRI has been the subject of several other reports. B. Riley increased their price target on Everi from $11.00 to $14.25 and gave the stock a neutral rating in a report on Monday, August 5th. Truist Financial lowered their target price on Everi from $11.00 to $10.00 and set a hold rating for the company in a research note on Thursday, July 18th. Raymond James reaffirmed a market perform rating on shares of Everi in a research note on Monday, July 29th. Finally, Stifel Nicolaus reissued a hold rating and set a $14.25 price objective (up previously from $11.00) on shares of Everi in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Everi currently has a consensus rating of Hold and a consensus target price of $13.50.

Everi Stock Performance

Shares of EVRI stock opened at $12.95 on Wednesday. The stock has a 50-day moving average of $9.73 and a 200-day moving average of $9.34. Everi has a one year low of $6.37 and a one year high of $15.13. The stock has a market cap of $1.09 billion, a PE ratio of 19.92 and a beta of 2.19. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.05 and a quick ratio of 0.96.

Everi (NYSE:EVRI) last posted its earnings results on Wednesday, August 7th. The credit services provider reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. Everi had a net margin of 7.59% and a return on equity of 30.41%. The company had revenue of $191.19 million for the quarter, compared to analyst estimates of $190.00 million. As a group, sell-side analysts expect that Everi will post 0.64 earnings per share for the current year.

Insider Transactions at Everi

In related news, CFO Mark F. Labay sold 10,645 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 $137,852.75. Following the completion of the transaction, the chief financial officer now owns 192,426 shares of the company’s stock, valued at $2,491,916.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mark F. Labay sold 10,645 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 $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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Lucchese sold 4,124 shares of Everi stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $12.99, for a total transaction of $53,570.76. Following the completion of the transaction, the executive vice president now directly owns 588,404 shares of the company’s stock, valued at approximately $7,643,367.96. The disclosure for this sale can be found here. Insiders sold 58,036 shares of company stock valued at $742,632 in the last ninety days. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Everi

Institutional investors and hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC increased its holdings in shares of Everi by 2.0% during the 4th quarter. SummerHaven Investment Management LLC now owns 49,848 shares of the credit services provider’s stock worth $562,000 after acquiring an additional 998 shares during the last quarter. CWM LLC boosted its position in Everi by 117.5% during the second quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 1,897 shares during the period. Oxford Financial Group LTD. LLC increased its holdings in shares of Everi by 4.3% in 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 last quarter. Quarry LP raised its position in shares of Everi by 38.9% in the second quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock valued at $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% in the second quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock valued at $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.