Prospect Capital Advisors LLC cut its stake in Everi Holdings Inc. (NYSE:EVRI – Get Rating) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,750 shares of the credit services provider's stock after selling 30,800 shares during the quarter. Everi makes up approximately 1.9% of Prospect Capital Advisors LLC's portfolio, making the stock its 19th largest holding. Prospect Capital Advisors LLC owned approximately 0.21% of Everi worth $4,090,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Millennium Management LLC raised its stake in Everi by 71.3% in the 4th quarter. Millennium Management LLC now owns 1,783,630 shares of the credit services provider's stock valued at $38,081,000 after purchasing an additional 742,468 shares during the last quarter. Cardinal Capital Management LLC CT increased its stake in shares of Everi by 100.2% in the 1st quarter. Cardinal Capital Management LLC CT now owns 708,487 shares of the credit services provider's stock worth $14,878,000 after acquiring an additional 354,614 shares during the last quarter. AGF Investments Inc. boosted its holdings in Everi by 92.6% in the 1st quarter. AGF Investments Inc. now owns 520,000 shares of the credit services provider's stock valued at $10,920,000 after purchasing an additional 250,000 shares during the last quarter. Invesco Ltd. lifted its holdings in Everi by 12.4% in the first quarter. Invesco Ltd. now owns 2,000,823 shares of the credit services provider's stock valued at $42,018,000 after acquiring an additional 220,937 shares during the last quarter. Finally, Calamos Advisors LLC grew its holdings in shares of Everi by 215.0% during the 1st quarter. Calamos Advisors LLC now owns 292,432 shares of the credit services provider's stock worth $6,141,000 after purchasing an additional 199,601 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.
Get Everi alerts:Analysts Set New Price Targets
Several research analysts have weighed in on EVRI shares. B. Riley lowered their target price on shares of Everi from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, June 28th. Raymond James raised their price objective on shares of Everi from $23.00 to $26.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 4th. Truist Financial lowered their price objective 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. StockNews.com raised shares of Everi from a "buy" rating to a "strong-buy" rating in a research note on Thursday, September 8th. Finally, Stifel Nicolaus reduced their target price on shares of Everi from $30.00 to $24.00 in a report on Monday, August 1st. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Everi has an average rating of "Buy" and a consensus target price of $28.75.
Everi Price Performance
Shares of NYSE EVRI traded down $0.89 during trading on Tuesday, hitting $17.98. 12,625 shares of the company were exchanged, compared to its average volume of 633,074. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 11.55 and a beta of 2.48. Everi Holdings Inc. has a 1 year low of $15.05 and a 1 year high of $26.61. The firm's fifty day moving average price is $18.89 and its 200 day moving average price is $18.76. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.18 and a quick ratio of 1.06.Everi (NYSE:EVRI – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The business had revenue of $197.22 million during the quarter, compared to the consensus estimate of $182.21 million. Everi had a return on equity of 73.32% and a net margin of 21.84%. On average, sell-side analysts expect that Everi Holdings Inc. will post 1.31 earnings per share for the current fiscal year.
Insider Activity at Everi
In other news, Director Geoffrey P. Judge sold 1,424 shares of the company's stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $18.00, for a total transaction of $25,632.00. Following the completion of the transaction, the director now owns 51,572 shares of the company's stock, valued at approximately $928,296. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Everi news, Director Geoffrey P. Judge sold 1,424 shares of the company'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 transaction, the director now owns 51,572 shares in the company, valued at approximately $928,296. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael D. Rumbolz sold 19,424 shares of the company's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $21.00, for a total value of $407,904.00. Following the completion of the transaction, the chairman now owns 981,899 shares of the company's stock, valued at approximately $20,619,879. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,848 shares of company stock valued at $613,536. 4.60% of the stock is owned by insiders.
About Everi
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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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