Everi (NYSE:EVRI) Hits New 52-Week High – Here’s Why

Everi Holdings Inc. (NYSE:EVRI)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $13.49 and last traded at $13.49, with a volume of 162 shares traded. The stock had previously closed at $13.47.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EVRI. B. Riley boosted their target price on Everi from $11.00 to $14.25 and gave the company a “neutral” rating in a research report on Monday, August 5th. StockNews.com began coverage on shares of Everi in a research report on Tuesday, November 26th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.88.

Everi Stock Up 0.1 %

The stock’s 50 day moving average is $13.30 and its 200 day moving average is $11.30. The company has a market capitalization of $1.16 billion, a PE ratio of 89.81 and a beta of 2.13. 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 news, CFO Mark F. Labay sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $13.38, for a total transaction of $669,000.00. Following the sale, the chief financial officer now owns 142,426 shares in the company, valued at approximately $1,905,659.88. This trade represents a 25.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Darren Simmons sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.10, for a total transaction of $982,500.00. Following the completion of the transaction, the executive vice president now owns 190,425 shares of the company’s stock, valued at $2,494,567.50. This trade represents a 28.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,000 shares of company stock worth $1,865,420. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in Everi by 6.6% in the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock valued at $550,000 after purchasing an additional 2,564 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Everi in the third quarter worth $878,000. Geode Capital Management LLC raised its holdings in Everi by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,860,321 shares of the credit services provider’s stock valued at $24,450,000 after buying an additional 27,670 shares during the last quarter. MML Investors Services LLC purchased a new stake in Everi during the 3rd quarter valued at $223,000. Finally, Jane Street Group LLC increased its position in shares of Everi by 86.7% in the third quarter. Jane Street Group LLC now owns 162,951 shares of the credit services provider’s stock valued at $2,141,000 after acquiring an additional 75,655 shares during the period. 95.47% of the stock is currently owned by institutional investors.

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.