StockNews.com Initiates Coverage on Everi (NYSE:EVRI)

Equities research analysts at StockNews.com initiated coverage on shares of Everi (NYSE:EVRI) in a report issued on Tuesday. The firm set a “hold” rating on the credit services provider’s stock.

A number of other equities analysts have also weighed in on the company. B. Riley boosted their target price on Everi from $11.00 to $14.25 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Raymond James restated a “market perform” rating on shares of Everi in a research report on Monday, July 29th. Truist Financial decreased their target price on shares of Everi from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.25 price objective (up previously from $11.00) on shares of Everi in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.50.

Everi Trading Up 0.3 %

NYSE:EVRI opened at $13.18 on Tuesday. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 20.27 and a beta of 2.15. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 3.94. The company’s 50 day moving average price is $12.86 and its 200-day moving average price is $9.95. Everi has a 52 week low of $6.37 and a 52 week high of $13.35.

Everi (NYSE:EVRI) last issued its earnings results on Wednesday, August 7th. The credit services provider reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $191.19 million for the quarter, compared to the consensus estimate of $190.00 million. Everi had a return on equity of 17.86% and a net margin of 5.42%. On average, equities research analysts forecast that Everi will post 0.49 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP David Lucchese sold 4,124 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $12.99, for a total value of $53,570.76. Following the transaction, the executive vice president now directly owns 588,404 shares of the company’s stock, valued at approximately $7,643,367.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Everi news, CEO Randy L. Taylor sold 29,222 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $12.95, for a total value of $378,424.90. Following the completion of the transaction, the chief executive officer now directly owns 794,822 shares in the company, valued at $10,292,944.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Lucchese sold 4,124 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $12.99, for a total transaction of $53,570.76. Following the sale, the executive vice president now owns 588,404 shares in the company, valued at $7,643,367.96. The disclosure for this sale can be found here. Insiders sold a total of 131,417 shares of company stock valued at $1,713,281 in the last 90 days. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Everi

Institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC boosted its stake in shares of Everi by 85.3% in the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock worth $23,400,000 after acquiring an additional 1,282,682 shares during the period. Goldman Sachs Group Inc. boosted its stake in Everi by 67.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock worth $20,841,000 after purchasing an additional 745,022 shares during the period. Private Capital Management LLC grew its holdings in Everi by 38.6% during the 4th quarter. Private Capital Management LLC now owns 2,329,241 shares of the credit services provider’s stock valued at $26,251,000 after buying an additional 648,696 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Everi by 1,230.8% during the second quarter. Burgundy Asset Management Ltd. now owns 683,938 shares of the credit services provider’s stock valued at $5,745,000 after buying an additional 632,544 shares during the last quarter. Finally, Breach Inlet Capital Management LLC purchased a new position in shares of Everi in the fourth quarter worth $6,051,000. Hedge funds and other 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.