Everi (NYSE:EVRI) Reaches New 12-Month High – Here’s Why

Everi Holdings Inc. (NYSE:EVRI) hit a new 52-week high on Tuesday . The company traded as high as $13.56 and last traded at $13.53, with a volume of 28205 shares changing hands. The stock had previously closed at $13.51.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Everi in a research note on Sunday. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.88.

Everi Trading Up 0.1 %

The company has a fifty day simple moving average of $13.44 and a 200-day simple moving average of $12.40. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 90.14 and a beta of 2.07. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 3.84.

Insider Activity

In other news, Director Linster W. Fox sold 40,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.48, for a total value of $539,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Michael D. Rumbolz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $13.47, for a total transaction of $673,500.00. Following the sale, the chairman now owns 1,032,062 shares of the company’s stock, valued at approximately $13,901,875.14. This represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,476 shares of company stock worth $3,435,636 over the last 90 days. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Everi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its holdings in shares of Everi by 1,296.2% during the 3rd quarter. Huntington National Bank now owns 5,892 shares of the credit services provider’s stock valued at $77,000 after acquiring an additional 5,470 shares in the last quarter. Quarry LP increased its holdings in Everi by 38.9% in the second quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after buying an additional 2,864 shares during the last quarter. Magnetar Financial LLC bought a new position in Everi during the second quarter valued at approximately $104,000. Meeder Asset Management Inc. acquired a new stake in Everi in the second quarter valued at approximately $118,000. Finally, MQS Management LLC bought a new stake in Everi in the second quarter worth approximately $141,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.