Everi (NYSE:EVRI) Coverage Initiated at StockNews.com

Research analysts at StockNews.com began coverage on shares of Everi (NYSE:EVRI) in a report issued on Tuesday. The brokerage set a “hold” rating on the credit services provider’s stock.

Everi Price Performance

Everi stock opened at $13.65 on Tuesday. Everi has a 52 week low of $6.37 and a 52 week high of $13.83. The business has a 50-day simple moving average of $13.66 and a 200 day simple moving average of $13.44. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 90.97 and a beta of 2.05.

Insider Transactions at Everi

In other news, Director Geoffrey P. Judge sold 7,332 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $13.73, for a total value of $100,668.36. Following the completion of the transaction, the director now directly owns 84,240 shares in the company, valued at approximately $1,156,615.20. This represents a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

A number of hedge funds and other institutional investors have recently modified their holdings of EVRI. Glazer Capital LLC purchased a new position in shares of Everi in the 3rd quarter worth about $33,507,000. Alpine Associates Management Inc. purchased a new stake in Everi during the 3rd quarter valued at about $24,815,000. Westchester Capital Management LLC purchased a new stake in Everi during the 3rd quarter valued at about $16,662,000. Sand Grove Capital Management LLP purchased a new stake in Everi during the 3rd quarter valued at about $15,806,000. Finally, Highbridge Capital Management LLC boosted its holdings in Everi by 147.8% during the 4th quarter. Highbridge Capital Management LLC now owns 1,392,408 shares of the credit services provider’s stock valued at $18,811,000 after acquiring an additional 830,470 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.