Victory Capital Management Inc. reduced its stake in Everi Holdings Inc. (NYSE:EVRI – Free Report) by 33.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,307 shares of the credit services provider’s stock after selling 7,201 shares during the period. Victory Capital Management Inc.’s holdings in Everi were worth $207,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in shares of Everi during the second quarter valued at approximately $382,000. Assenagon Asset Management S.A. increased its stake in shares of Everi by 196.0% during the second quarter. Assenagon Asset Management S.A. now owns 406,510 shares of the credit services provider’s stock valued at $5,878,000 after purchasing an additional 269,177 shares in the last quarter. Insight Folios Inc bought a new position in shares of Everi during the second quarter valued at approximately $172,000. Exchange Traded Concepts LLC bought a new position in shares of Everi during the second quarter valued at approximately $120,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Everi by 5.7% during the first quarter. JPMorgan Chase & Co. now owns 681,382 shares of the credit services provider’s stock valued at $11,686,000 after purchasing an additional 36,938 shares in the last quarter. 87.83% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
EVRI has been the subject of a number of analyst reports. TheStreet downgraded shares of Everi from a “b-” rating to a “c+” rating in a research note on Wednesday. Truist Financial reduced their price target on shares of Everi from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. StockNews.com started coverage on shares of Everi in a research report on Thursday, October 5th. They set a “buy” rating for the company. Raymond James reduced their price target on shares of Everi from $25.00 to $20.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 10th. Finally, B. Riley reduced their price target on shares of Everi from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $22.00.
Insider Buying and Selling
In related news, CEO Randy L. Taylor bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average price of $14.27 per share, for a total transaction of $71,350.00. Following the completion of the acquisition, the chief executive officer now owns 522,622 shares of the company’s stock, valued at approximately $7,457,815.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.70% of the stock is currently owned by corporate insiders.
Everi Trading Up 3.8 %
Shares of EVRI stock opened at $11.50 on Monday. Everi Holdings Inc. has a 12-month low of $10.52 and a 12-month high of $19.85. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 4.01. The firm’s 50 day moving average is $12.95 and its 200 day moving average is $14.03. The stock has a market capitalization of $1.01 billion, a P/E ratio of 9.83 and a beta of 2.27.
Everi (NYSE:EVRI – Get Free Report) last issued its earnings results on Tuesday, August 8th. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.17. Everi had a net margin of 13.67% and a return on equity of 56.42%. The company had revenue of $208.72 million for the quarter, compared to analysts’ expectations of $207.65 million. Research analysts expect that Everi Holdings Inc. will post 1.08 earnings per share for the current year.
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, Australia, the United Kingdom, Europe, the Caribbean, Central America, and Asia. It operates in two segments, Games and Financial Technology Solutions.
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