American International Group Inc. Cuts Holdings in Everi Holdings Inc. (NYSE:EVRI)

American International Group Inc. reduced its position in Everi Holdings Inc. (NYSE:EVRI) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,645 shares of the credit services provider’s stock after selling 1,002 shares during the quarter. American International Group Inc.’s holdings in Everi were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Los Angeles Capital Management LLC raised its position in shares of Everi by 19.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 21,655 shares of the credit services provider’s stock worth $313,000 after buying an additional 3,500 shares during the period. Skylands Capital LLC raised its position in Everi by 281.5% in the second quarter. Skylands Capital LLC now owns 62,000 shares of the credit services provider’s stock valued at $897,000 after purchasing an additional 45,750 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Everi by 13.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,361 shares of the credit services provider’s stock valued at $30,357,000 after purchasing an additional 252,846 shares during the period. Mackenzie Financial Corp raised its position in Everi by 63.8% in the second quarter. Mackenzie Financial Corp now owns 23,526 shares of the credit services provider’s stock valued at $344,000 after purchasing an additional 9,163 shares during the period. Finally, LPL Financial LLC raised its position in Everi by 13.6% in the second quarter. LPL Financial LLC now owns 62,798 shares of the credit services provider’s stock valued at $908,000 after purchasing an additional 7,499 shares during the period. 87.83% of the stock is owned by hedge funds and other institutional investors.

Everi Stock Up 2.7 %

Shares of Everi stock opened at $11.17 on Friday. The company has a market capitalization of $955.78 million, a PE ratio of 9.63 and a beta of 2.27. Everi Holdings Inc. has a 1-year low of $10.33 and a 1-year high of $19.85. The business has a 50-day moving average of $12.34 and a 200-day moving average of $13.77. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.10 and a quick ratio of 0.99.

Insider Buying and Selling

In other news, CEO Randy L. Taylor purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $14.27 per share, for a total transaction of $71,350.00. Following the completion of the purchase, the chief executive officer now owns 522,622 shares of the company’s stock, valued at $7,457,815.94. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Raymond James cut their price objective on Everi from $20.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Thursday, November 9th. B. Riley cut their price objective on Everi from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. TheStreet downgraded Everi from a “b-” rating to a “c+” rating in a research note on Wednesday, November 1st. StockNews.com started coverage on Everi in a research note on Thursday, October 5th. They set a “buy” rating for the company. Finally, Truist Financial lowered their target price on Everi from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $21.00.

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, Australia, the United Kingdom, Europe, the Caribbean, Central America, and Asia. It operates in two segments, Games and Financial Technology Solutions.