StockNews.com Initiates Coverage on Everi (NYSE:EVRI)

Investment analysts at StockNews.com started coverage on shares of Everi (NYSE:EVRI) in a report issued on Sunday. The firm set a “hold” rating on the credit services provider’s stock.

Everi Stock Performance

NYSE EVRI opened at $13.53 on Friday. The company has a market capitalization 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 52-week low of $6.37 and a 52-week high of $13.55. The company has a 50-day simple moving average of $13.43 and a 200 day simple moving average of $12.33.

Insider Buying and Selling

In other news, EVP David Lucchese sold 45,476 shares of Everi stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $13.48, for a total value of $613,016.48. Following the completion of the transaction, the executive vice president now owns 542,928 shares in the company, valued at $7,318,669.44. This trade represents a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael D. Rumbolz sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 in the company, valued at $13,901,875.14. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,476 shares of company stock valued at $3,435,636. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Quest Partners LLC increased its position in shares of Everi by 756.2% during the second quarter. Quest Partners LLC now owns 73,920 shares of the credit services provider’s stock valued at $621,000 after buying an additional 65,287 shares during the period. Huntington National Bank boosted its position in shares of Everi by 1,296.2% in the third 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 during the period. Burgundy Asset Management Ltd. grew its stake in Everi by 1,230.8% during the second quarter. Burgundy Asset Management Ltd. now owns 683,938 shares of the credit services provider’s stock valued at $5,745,000 after acquiring an additional 632,544 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in Everi in the 3rd quarter worth approximately $2,113,000. Finally, Intech Investment Management LLC bought a new position in Everi in the 3rd quarter valued at $232,000. 95.47% of the stock is currently 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.