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

Everi Holdings Inc. (NYSE:EVRI) saw an uptick in trading volume on Wednesday . 696,981 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 586,239 shares.The stock last traded at $13.64 and had previously closed at $13.68.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Everi in a report on Monday. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Everi has a consensus rating of “Hold” and an average target price of $12.83.

Everi Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The firm has a market cap of $1.18 billion, a PE ratio of 90.64 and a beta of 2.05. The firm has a 50-day moving average price of $13.66 and a two-hundred day moving average price of $13.42.

Insider Transactions at Everi

In other news, EVP Darren Simmons sold 50,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $13.46, for a total value of $673,000.00. Following the completion of the sale, the executive vice president now owns 140,425 shares of the company’s stock, valued at $1,890,120.50. This represents a 26.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

Large investors have recently modified their holdings of the business. Polar Asset Management Partners Inc. purchased a new stake in Everi in the 4th quarter valued at about $4,728,000. Burgundy Asset Management Ltd. boosted its holdings in Everi by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 731,635 shares of the credit services provider’s stock valued at $9,884,000 after acquiring an additional 12,454 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Everi by 4.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 237,330 shares of the credit services provider’s stock valued at $3,206,000 after acquiring an additional 10,144 shares in the last quarter. Western Standard LLC increased its stake in Everi by 0.8% during the fourth quarter. Western Standard LLC now owns 144,650 shares of the credit services provider’s stock worth $1,954,000 after purchasing an additional 1,200 shares during the period. Finally, Sagefield Capital LP lifted its position in shares of Everi by 77.7% during the fourth quarter. Sagefield Capital LP now owns 144,318 shares of the credit services provider’s stock worth $1,950,000 after purchasing an additional 63,118 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.