Everi (NYSE:EVRI) Hits New 1-Year High – Here’s Why

Everi Holdings Inc. (NYSE:EVRI)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $13.50 and last traded at $13.50, with a volume of 36705 shares changing hands. The stock had previously closed at $13.48.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Everi in a report on Thursday. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Everi has a consensus rating of “Hold” and a consensus price target of $12.88.

Everi Stock Performance

The firm’s 50 day simple moving average is $13.36 and its 200-day simple moving average is $11.69. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 89.77 and a beta of 2.07. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06.

Insider Activity

In other Everi news, Chairman Michael D. Rumbolz sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $13.47, for a total value of $673,500.00. Following the transaction, the chairman now owns 1,032,062 shares in the company, valued at $13,901,875.14. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Geoffrey P. Judge sold 16,000 shares of the firm’s 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 directly owns 91,572 shares of the company’s stock, valued at $1,224,317.64. This trade represents a 14.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,476 shares of company stock worth $3,435,636 in the last 90 days. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp increased its stake in shares of Everi by 12.2% during the 3rd quarter. Stifel Financial Corp now owns 13,059 shares of the credit services provider’s stock worth $172,000 after purchasing an additional 1,423 shares during the last quarter. CWM LLC increased 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 buying an additional 1,897 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in Everi by 4.6% during the second quarter. SummerHaven Investment Management LLC now owns 53,078 shares of the credit services provider’s stock valued at $446,000 after buying an additional 2,347 shares in the last quarter. Franklin Resources Inc. raised its holdings in Everi by 6.6% during the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock valued at $550,000 after buying an additional 2,564 shares in the last quarter. Finally, Quarry LP boosted its stake 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 acquiring an additional 2,864 shares in the last quarter. 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.