Everi (NYSE:EVRI) Sees Strong Trading Volume – Time to Buy?

Shares of Everi Holdings Inc. (NYSE:EVRI) saw unusually-high trading volume on Friday . Approximately 974,371 shares were traded during trading, an increase of 72% from the previous session’s volume of 566,770 shares.The stock last traded at $13.63 and had previously closed at $13.64.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Everi in a research note on Tuesday, January 21st. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.88.

Everi Stock Down 0.2 %

The stock’s fifty day moving average price is $13.50 and its 200-day moving average price is $12.89. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 90.77 and a beta of 2.06. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84.

Insider Buying and Selling at Everi

In other news, EVP Darren Simmons sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.46, for a total value of $673,000.00. Following the completion of the transaction, the executive vice president now owns 140,425 shares in the company, valued at $1,890,120.50. This trade represents a 26.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey P. Judge sold 16,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $13.37, for a total value of $213,920.00. Following the sale, the director now owns 91,572 shares in the company, valued at $1,224,317.64. The trade was a 14.87 % decrease in their position. The disclosure for this sale can be found here. In 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 large investors have recently made changes to their positions in EVRI. Glazer Capital LLC bought a new stake in Everi during the third quarter worth $33,507,000. Alpine Associates Management Inc. bought a new position in shares of Everi in the 3rd quarter valued at about $24,815,000. Clearbridge Investments LLC increased its stake in shares of Everi by 85.3% during the 2nd quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock worth $23,400,000 after purchasing an additional 1,282,682 shares during the last quarter. Westchester Capital Management LLC bought a new stake in shares of Everi in the 3rd quarter valued at about $16,662,000. Finally, Sand Grove Capital Management LLP acquired a new stake in Everi in the 3rd quarter valued at about $15,806,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.