Everi Holdings Inc. (NYSE:EVRI) Sees Significant Decline in Short Interest

Everi Holdings Inc. (NYSE:EVRI) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 2,770,000 shares, a decrease of 5.1% from the December 15th total of 2,920,000 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily trading volume, of 551,400 shares, the days-to-cover ratio is currently 5.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Everi in a report on Tuesday. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.88.

Insiders Place Their Bets

In related news, EVP Darren Simmons sold 50,000 shares of Everi stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $13.46, for a total transaction of $673,000.00. Following the transaction, the executive vice president now owns 140,425 shares in the company, valued at approximately $1,890,120.50. The trade was a 26.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Geoffrey P. Judge sold 4,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $13.50, for a total transaction of $54,000.00. Following the completion of the transaction, the director now directly owns 91,572 shares of the company’s stock, valued at $1,236,222. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,476 shares of company stock worth $3,435,636 over the last quarter. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Everi

Hedge funds have recently made changes to their positions in the company. Stifel Financial Corp increased its stake in Everi by 12.2% in the 3rd quarter. Stifel Financial Corp now owns 13,059 shares of the credit services provider’s stock worth $172,000 after acquiring an additional 1,423 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Everi by 6.6% in the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock valued at $550,000 after purchasing an additional 2,564 shares in the last quarter. Quarry LP increased its position 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 purchasing an additional 2,864 shares during the last quarter. Nordea Investment Management AB raised its stake in Everi by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 295,960 shares of the credit services provider’s stock valued at $3,995,000 after purchasing an additional 3,573 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Everi by 3.7% during the second quarter. Rhumbline Advisers now owns 125,137 shares of the credit services provider’s stock valued at $1,051,000 after purchasing an additional 4,486 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Everi Stock Down 0.2 %

Shares of EVRI stock opened at $13.56 on Tuesday. The company’s fifty day simple moving average is $13.48 and its two-hundred day simple moving average is $12.78. Everi has a 52 week low of $6.37 and a 52 week high of $13.65. The stock has a market cap of $1.17 billion, a P/E ratio of 90.41 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.

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.