Everi (NYSE:EVRI) Sees Unusually-High Trading Volume – Time to Buy?

Everi Holdings Inc. (NYSE:EVRI) saw an uptick in trading volume on Friday . 518,472 shares were traded during mid-day trading, an increase of 41% from the previous session’s volume of 366,781 shares.The stock last traded at $13.52 and had previously closed at $13.52.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Everi in a research note on Saturday, December 28th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Everi presently has a consensus rating of “Hold” and a consensus target price of $12.88.

Everi Price Performance

The firm has a market capitalization of $1.17 billion, a P/E ratio of 90.14 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 firm has a 50 day moving average price of $13.43 and a 200-day moving average price of $12.26.

Insider Buying and Selling at Everi

In other news, EVP David Lucchese sold 45,476 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $13.48, for a total transaction of $613,016.48. Following the transaction, the executive vice president now owns 542,928 shares of the company’s stock, valued at approximately $7,318,669.44. This represents a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Darren Simmons sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $13.46, for a total value of $673,000.00. Following the sale, the executive vice president now directly owns 140,425 shares of the company’s stock, valued at $1,890,120.50. This represents a 26.26 % 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 over the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp lifted its holdings in Everi by 12.2% during the 3rd quarter. Stifel Financial Corp now owns 13,059 shares of the credit services provider’s stock valued at $172,000 after buying an additional 1,423 shares in the last quarter. Franklin Resources Inc. increased its holdings in Everi by 6.6% during the 3rd quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock worth $550,000 after purchasing an additional 2,564 shares during the period. Quarry LP raised its holdings in shares of Everi by 38.9% in the second quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock valued at $86,000 after acquiring an additional 2,864 shares in the last quarter. Signaturefd LLC lifted its position in shares of Everi by 2,428.6% in the 2nd quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock worth $27,000 after purchasing an additional 3,060 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Everi by 3.7% during the second quarter. Rhumbline Advisers now owns 125,137 shares of the credit services provider’s stock valued at $1,051,000 after purchasing an additional 4,486 shares in the last quarter. 95.47% of the stock is currently owned by 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.