Everi Holdings Inc. (NYSE:EVRI – Get Rating) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,180,000 shares, a decline of 8.4% from the August 15th total of 2,380,000 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily trading volume, of 653,000 shares, the days-to-cover ratio is presently 3.3 days.
Everi Trading Down 1.1 %
Shares of EVRI stock traded down $0.19 during trading hours on Tuesday, reaching $17.41. 326,207 shares of the stock were exchanged, compared to its average volume of 712,626. Everi has a 12-month low of $15.05 and a 12-month high of $26.61. The company has a current ratio of 1.18, a quick ratio of 1.06 and a debt-to-equity ratio of 4.81. The company's 50-day moving average price is $18.94 and its 200-day moving average price is $18.59. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 10.95 and a beta of 2.48.
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Everi (NYSE:EVRI – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. Everi had a net margin of 21.84% and a return on equity of 73.32%. The company had revenue of $197.22 million during the quarter, compared to analysts' expectations of $182.21 million. As a group, equities analysts anticipate that Everi will post 1.31 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Geoffrey P. Judge sold 1,424 shares of the business's stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $18.00, for a total value of $25,632.00. Following the completion of the sale, the director now directly owns 51,572 shares in the company, valued at $928,296. The sale was disclosed in a filing with the SEC, which is available at this link. In other Everi news, Director Geoffrey P. Judge sold 3,000 shares of the business's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $20.00, for a total transaction of $60,000.00. Following the sale, the director now owns 51,572 shares of the company's stock, valued at approximately $1,031,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geoffrey P. Judge sold 1,424 shares of the business's stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $18.00, for a total transaction of $25,632.00. Following the sale, the director now directly owns 51,572 shares in the company, valued at approximately $928,296. The disclosure for this sale can be found here. Insiders have sold a total of 29,848 shares of company stock valued at $613,536 over the last 90 days. 4.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Prelude Capital Management LLC boosted its holdings in shares of Everi by 9.0% in the 2nd quarter. Prelude Capital Management LLC now owns 11,169 shares of the credit services provider's stock valued at $182,000 after acquiring an additional 924 shares during the last quarter. Captrust Financial Advisors raised its position in Everi by 0.8% during the second quarter. Captrust Financial Advisors now owns 66,624 shares of the credit services provider's stock worth $1,087,000 after acquiring an additional 530 shares during the period. ExodusPoint Capital Management LP raised its position in shares of Everi by 33.0% in the second quarter. ExodusPoint Capital Management LP now owns 214,778 shares of the credit services provider's stock valued at $3,503,000 after buying an additional 53,334 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Everi by 63.6% in the second quarter. Goldman Sachs Group Inc. now owns 294,788 shares of the credit services provider's stock valued at $4,808,000 after buying an additional 114,584 shares during the last quarter. Finally, Advisory Research Inc. increased its position in Everi by 145.5% during the second quarter. Advisory Research Inc. now owns 34,271 shares of the credit services provider's stock worth $559,000 after purchasing an additional 20,310 shares during the last quarter. Institutional investors own 89.08% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Everi from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Wednesday, July 20th. B. Riley dropped their target price on shares of Everi from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, June 28th. Stifel Nicolaus decreased their price target on shares of Everi from $30.00 to $24.00 in a research report on Monday, August 1st. Raymond James increased their price target on shares of Everi from $23.00 to $26.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 4th. Finally, StockNews.com upgraded shares of Everi from a "buy" rating to a "strong-buy" rating in a research report on Thursday, September 8th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $28.75.
Everi Company Profile
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Everi Holdings Inc provides entertainment and technology solutions for the casino and digital gaming industries in the United States, Canada, the United Kingdom, Europe, the Caribbean, Central America, and Asia. It operates in two segments, Games and FinTech. The company offers local and wide-area progressive gaming products, such as classic mechanical reel games and video reel games, as well as TournEvent, a slot tournament terminal and system machine; and sells player terminals, licenses, game content, and related equipment.
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