Everi (NYSE:EVRI) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Everi (NYSE:EVRI) in a research report released on Monday. The firm issued a hold rating on the credit services provider’s stock.

Everi Price Performance

EVRI stock opened at $13.56 on Monday. Everi has a 52 week low of $6.37 and a 52 week high of $13.57. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The company has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $12.56. The firm has a market capitalization of $1.17 billion, a P/E ratio of 90.41 and a beta of 2.06.

Insider Buying and Selling at Everi

In other news, Director Geoffrey P. Judge sold 16,000 shares of the stock in a transaction on Friday, November 15th. The shares were 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 of the company’s stock, valued at approximately $1,224,317.64. This represents a 14.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Lucchese sold 45,476 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.48, for a total transaction of $613,016.48. Following the completion of the transaction, the executive vice president now directly owns 542,928 shares in the company, valued at $7,318,669.44. This represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,476 shares of company stock worth $3,435,636 over the last 90 days. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EVRI. Glazer Capital LLC purchased a new position in Everi in the 3rd quarter worth about $33,507,000. Alpine Associates Management Inc. purchased a new position in Everi during the 3rd quarter valued at about $24,815,000. Clearbridge Investments LLC increased its position in Everi by 85.3% during the 2nd quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock valued at $23,400,000 after purchasing an additional 1,282,682 shares during the period. Westchester Capital Management LLC purchased a new position in Everi during the 3rd quarter valued at about $16,662,000. Finally, Sand Grove Capital Management LLP purchased a new position in Everi during the 3rd quarter valued at about $15,806,000. 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.