Everi (NYSE:EVRI) Reaches New 1-Year High – Here’s What Happened

Everi Holdings Inc. (NYSE:EVRI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.51 and last traded at $13.50, with a volume of 9152 shares. The stock had previously closed at $13.50.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Everi in a research report on Thursday, December 12th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.88.

Everi Price Performance

The firm has a market cap of $1.16 billion, a P/E ratio of 90.00 and a beta of 2.07. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 3.84. The business has a 50-day moving average of $13.37 and a two-hundred day moving average of $11.80.

Insider Buying and Selling at Everi

In related news, CFO Mark F. Labay sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $13.38, for a total value of $669,000.00. Following the transaction, the chief financial officer now owns 142,426 shares in the company, valued at $1,905,659.88. The trade was a 25.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geoffrey P. Judge sold 16,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $13.37, for a total value of $213,920.00. Following the sale, the director now owns 91,572 shares of the company’s stock, valued at approximately $1,224,317.64. The trade was a 14.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,476 shares of company stock worth $3,435,636. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everi

Large investors have recently added to or reduced their stakes in the business. Glazer Capital LLC bought a new stake in Everi in the third quarter valued at $33,507,000. Alpine Associates Management Inc. acquired a new stake in shares of Everi in the 3rd quarter valued at about $24,815,000. Clearbridge Investments LLC increased its position in Everi by 85.3% in the 2nd quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock valued at $23,400,000 after buying an additional 1,282,682 shares in the last quarter. Westchester Capital Management LLC acquired a new position in Everi during the 3rd quarter worth approximately $16,662,000. Finally, Sand Grove Capital Management LLP bought a new position in Everi in the third quarter worth approximately $15,806,000. Institutional investors and hedge funds 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.