Everi (NYSE:EVRI) Reaches New 12-Month Low on Analyst Downgrade

Everi Holdings Inc. (NYSE:EVRI)’s stock price hit a new 52-week low during trading on Wednesday after Truist Financial lowered their price target on the stock from $13.00 to $11.00. Truist Financial currently has a hold rating on the stock. Everi traded as low as $8.41 and last traded at $8.44, with a volume of 215119 shares trading hands. The stock had previously closed at $8.70.

Several other research firms have also recently issued reports on EVRI. B. Riley assumed coverage on shares of Everi in a report on Friday, April 5th. They set a “neutral” rating and a $12.00 price target for the company. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price target (down from $18.00) on shares of Everi in a report on Friday, March 1st. Finally, StockNews.com cut shares of Everi from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.20.

Institutional Trading of Everi

Large investors have recently modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of Everi by 36.4% during the third quarter. American Century Companies Inc. now owns 2,896,663 shares of the credit services provider’s stock valued at $38,294,000 after buying an additional 772,860 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Everi by 67.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock valued at $20,841,000 after buying an additional 745,022 shares during the period. Private Capital Management LLC lifted its stake in shares of Everi by 38.6% during the fourth 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 during the period. Breach Inlet Capital Management LLC purchased a new position in shares of Everi during the fourth quarter valued at approximately $6,051,000. Finally, Grizzlyrock Capital LLC purchased a new position in shares of Everi during the fourth quarter valued at approximately $5,781,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Everi Stock Down 2.6 %

The company has a quick ratio of 0.97, a current ratio of 1.05 and a debt-to-equity ratio of 4.28. The firm has a market cap of $699.14 million, a PE ratio of 9.27 and a beta of 2.05. The firm’s 50 day moving average is $9.73 and its 200-day moving average is $10.55.

Everi (NYSE:EVRI) last posted its quarterly earnings results on Thursday, February 29th. The credit services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.19). The company had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $200.99 million. Everi had a return on equity of 42.93% and a net margin of 10.40%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. As a group, equities research analysts expect that Everi Holdings Inc. will post 0.97 earnings per share for the current fiscal year.

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.