Everi Holdings Inc. (NYSE:EVRI) Sees Significant Decrease in Short Interest

Everi Holdings Inc. (NYSE:EVRI) saw a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 3,080,000 shares, a decline of 7.5% from the May 15th total of 3,330,000 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is currently 2.4 days.

Everi Stock Performance

Everi stock traded down $0.03 during midday trading on Wednesday, reaching $7.99. 986,517 shares of the company traded hands, compared to its average volume of 1,748,449. Everi has a 12 month low of $6.37 and a 12 month high of $15.25. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.05 and a quick ratio of 0.96. The business has a 50 day moving average of $7.95 and a two-hundred day moving average of $9.55. The firm has a market capitalization of $671.80 million, a price-to-earnings ratio of 12.30 and a beta of 2.15.

Everi (NYSE:EVRI) last released its quarterly earnings results on Wednesday, May 8th. The credit services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). The firm had revenue of $189.30 million for the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $0.39 earnings per share. As a group, research analysts predict that Everi will post 0.72 earnings per share for the current year.

Insider Activity

In other Everi news, CEO Randy L. Taylor sold 28,713 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $7.65, for a total value of $219,654.45. Following the sale, the chief executive officer now owns 585,281 shares of the company’s stock, valued at approximately $4,477,399.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Darren Simmons sold 45,000 shares of the firm’s 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 sale, the executive vice president now owns 152,550 shares of the company’s stock, valued at $1,231,078.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Randy L. Taylor sold 28,713 shares of Everi stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $7.65, for a total transaction of $219,654.45. Following the completion of the sale, the chief executive officer now owns 585,281 shares in the company, valued at approximately $4,477,399.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,043 shares of company stock valued at $1,073,022. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC lifted its position in shares of Everi by 2.2% during the 1st 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 buying an additional 30,780 shares in the last quarter. Mount Yale Investment Advisors LLC raised its stake in Everi by 46.8% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 16,844 shares of the credit services provider’s stock worth $169,000 after acquiring an additional 5,371 shares during the period. BOKF NA lifted its holdings in Everi by 352.7% during the first quarter. BOKF NA now owns 27,984 shares of the credit services provider’s stock valued at $284,000 after purchasing an additional 21,802 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Everi in the first quarter worth approximately $342,000. Finally, EntryPoint Capital LLC increased its stake in shares of Everi by 30.9% in the first quarter. EntryPoint Capital LLC now owns 13,545 shares of the credit services provider’s stock worth $136,000 after purchasing an additional 3,200 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EVRI. Stifel Nicolaus cut their target price on shares of Everi from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Truist Financial cut their price objective on Everi from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. B. Riley initiated coverage on Everi in a research report on Friday, April 5th. They issued a “neutral” rating and a $12.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price objective (down previously from $18.00) on shares of Everi in a report on Friday, March 1st. Finally, StockNews.com cut shares of Everi from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

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.