Everi (NYSE:EVRI) Hits New 12-Month High – Here’s Why

Shares of Everi Holdings Inc. (NYSE:EVRI) hit a new 52-week high during trading on Friday . The stock traded as high as $14.10 and last traded at $14.08, with a volume of 711 shares. The stock had previously closed at $14.07.

Analyst Ratings Changes

Separately, StockNews.com raised Everi from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.83.

Everi Stock Up 0.0%

The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $13.75 and a 200-day simple moving average of $13.62. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 93.84 and a beta of 1.31.

Everi (NYSE:EVRI) last released its quarterly earnings data on Monday, May 12th. The credit services provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). Everi had a return on equity of 5.47% and a net margin of 1.72%. The company had revenue of $181.30 million for the quarter, compared to analyst estimates of $193.22 million. On average, sell-side analysts forecast that Everi Holdings Inc. will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Geoffrey P. Judge sold 7,332 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.73, for a total transaction of $100,668.36. Following the sale, the director now owns 84,240 shares in the company, valued at approximately $1,156,615.20. This represents a 8.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Todd A. Valli sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $13.75, for a total value of $412,500.00. Following the completion of the transaction, the chief accounting officer now owns 57,413 shares in the company, valued at approximately $789,428.75. This represents a 34.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

Several hedge funds have recently added to or reduced their stakes in EVRI. Vestcor Inc bought a new position in Everi in the fourth quarter valued at about $28,000. US Bancorp DE lifted its stake in Everi by 1,952.0% in the first quarter. US Bancorp DE now owns 6,833 shares of the credit services provider’s stock valued at $93,000 after buying an additional 6,500 shares during the period. AlphaQuest LLC lifted its stake in Everi by 97.8% in the fourth quarter. AlphaQuest LLC now owns 9,449 shares of the credit services provider’s stock valued at $128,000 after buying an additional 4,671 shares during the period. EP Wealth Advisors LLC acquired a new position in Everi in the fourth quarter valued at about $143,000. Finally, Proficio Capital Partners LLC acquired a new position in Everi in the fourth quarter valued at about $151,000. Institutional investors own 95.47% of the company’s stock.

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.