Everi (NYSE:EVRI) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Everi (NYSE:EVRI) in a research note published on Sunday. The firm issued a hold rating on the credit services provider’s stock.

Everi Price Performance

NYSE:EVRI opened at $13.53 on Friday. The stock has a 50 day moving average price of $13.44 and a 200 day moving average price of $12.44. The stock has a market cap of $1.17 billion, a PE ratio of 90.21 and a beta of 2.07. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06. Everi has a one year low of $6.37 and a one year high of $13.56.

Insider Activity at Everi

In other news, Director Geoffrey P. Judge sold 4,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $13.50, for a total transaction of $54,000.00. Following the completion of the transaction, the director now directly owns 91,572 shares of the company’s stock, valued at approximately $1,236,222. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Lucchese sold 45,476 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $13.48, for a total transaction of $613,016.48. Following the completion of the sale, the executive vice president now directly owns 542,928 shares in the company, valued at approximately $7,318,669.44. This represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,476 shares of company stock worth $3,435,636. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Everi

Several institutional investors have recently modified their holdings of the company. Glazer Capital LLC acquired a new stake in shares of Everi during the third quarter worth about $33,507,000. Alpine Associates Management Inc. purchased a new position in Everi during the third quarter worth about $24,815,000. Clearbridge Investments LLC lifted its holdings in shares of Everi by 85.3% in the 2nd quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock valued at $23,400,000 after buying an additional 1,282,682 shares during the period. Westchester Capital Management LLC purchased a new stake in shares of Everi during the 3rd quarter worth $16,662,000. Finally, Sand Grove Capital Management LLP acquired a new stake in shares of Everi in the third quarter valued at about $15,806,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.