Long Pond Capital LP Makes New Investment in Everi Holdings Inc. (NYSE:EVRI)

Long Pond Capital LP bought a new stake in Everi Holdings Inc. (NYSE:EVRI) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 530,093 shares of the credit services provider’s stock, valued at approximately $4,453,000.

Several other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Everi by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,486 shares of the credit services provider’s stock valued at $11,546,000 after buying an additional 58,267 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of Everi by 14.6% during the fourth quarter. Trexquant Investment LP now owns 94,323 shares of the credit services provider’s stock worth $1,063,000 after purchasing an additional 12,017 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Everi by 45.3% in the fourth quarter. Allianz Asset Management GmbH now owns 501,264 shares of the credit services provider’s stock valued at $5,649,000 after buying an additional 156,385 shares in the last quarter. Clark Estates Inc. NY acquired a new position in Everi during the 4th quarter worth about $2,225,000. Finally, Breach Inlet Capital Management LLC acquired a new stake in Everi in the 4th quarter valued at about $6,051,000. Institutional investors own 95.47% of the company’s stock.

Insider Transactions at Everi

In related news, EVP Darren Simmons sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total value of $982,500.00. Following the sale, the executive vice president now directly owns 190,425 shares in the company, valued at approximately $2,494,567.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Darren Simmons sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total transaction of $982,500.00. Following the completion of the transaction, the executive vice president now owns 190,425 shares in the company, valued at $2,494,567.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Lucchese sold 4,124 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $12.99, for a total transaction of $53,570.76. Following the completion of the sale, the executive vice president now directly owns 588,404 shares of the company’s stock, valued at approximately $7,643,367.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,417 shares of company stock worth $1,713,281. 6.40% of the stock is currently owned by company insiders.

Everi Price Performance

EVRI opened at $13.13 on Friday. The company has a fifty day moving average price of $12.58 and a two-hundred day moving average price of $9.85. The firm has a market capitalization of $1.10 billion, a PE ratio of 20.20 and a beta of 2.15. Everi Holdings Inc. has a 52 week low of $6.37 and a 52 week high of $13.67. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.95 and a current ratio of 1.05.

Everi (NYSE:EVRI) last announced its quarterly earnings data on Wednesday, August 7th. The credit services provider reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $191.19 million during the quarter, compared to analysts’ expectations of $190.00 million. Everi had a return on equity of 17.86% and a net margin of 5.42%. As a group, analysts anticipate that Everi Holdings Inc. will post 0.49 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EVRI shares. Truist Financial reduced their target price on shares of Everi from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Raymond James reaffirmed a “market perform” rating on shares of Everi in a report on Monday, July 29th. Stifel Nicolaus reissued a “hold” rating and issued a $14.25 target price (up from $11.00) on shares of Everi in a research note on Wednesday, July 31st. StockNews.com initiated coverage on Everi in a research report on Monday. They set a “hold” rating for the company. Finally, B. Riley raised their price target on Everi from $11.00 to $14.25 and gave the company a “neutral” rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.50.

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.