Alpine Associates Management Inc. Purchases Shares of 1,888,500 Everi Holdings Inc. (NYSE:EVRI)

Alpine Associates Management Inc. bought a new stake in shares of Everi Holdings Inc. (NYSE:EVRI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,888,500 shares of the credit services provider's stock, valued at approximately $24,815,000. Everi accounts for about 1.1% of Alpine Associates Management Inc.'s investment portfolio, making the stock its 28th biggest position. Alpine Associates Management Inc. owned approximately 2.19% of Everi at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EVRI. Signaturefd LLC increased its position in shares of Everi by 2,428.6% during the second quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider's stock worth $27,000 after purchasing an additional 3,060 shares in the last quarter. CWM LLC grew its holdings in Everi by 117.5% during the second quarter. CWM LLC now owns 3,512 shares of the credit services provider's stock worth $30,000 after acquiring an additional 1,897 shares during the period. Huntington National Bank raised its position in shares of Everi by 1,296.2% during the 3rd quarter. Huntington National Bank now owns 5,892 shares of the credit services provider's stock worth $77,000 after purchasing an additional 5,470 shares during the last quarter. Quarry LP lifted its holdings in shares of Everi by 38.9% during the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider's stock worth $86,000 after acquiring an additional 2,864 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in Everi in the 2nd quarter valued at $104,000. 95.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Everi news, EVP Darren Simmons sold 75,000 shares of the firm'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 sale, the executive vice president now owns 190,425 shares in the company, valued at approximately $2,494,567.50. This trade represents a 28.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoffrey P. Judge sold 16,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $13.37, for a total value of $213,920.00. Following the completion of the transaction, the director now owns 91,572 shares of the company's stock, valued at $1,224,317.64. The trade was a 14.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Everi Stock Down 0.1 %

Shares of NYSE:EVRI traded down $0.01 during mid-day trading on Wednesday, hitting $13.34. 183,646 shares of the company traded hands, compared to its average volume of 1,378,074. The stock has a market cap of $1.15 billion, a P/E ratio of 28.39 and a beta of 2.13. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 3.84. The stock has a 50-day moving average price of $13.25 and a two-hundred day moving average price of $10.99. Everi Holdings Inc. has a 12-month low of $6.37 and a 12-month high of $13.45.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EVRI. B. Riley lifted their target price on Everi from $11.00 to $14.25 and gave the company a "neutral" rating in a research note on Monday, August 5th. Stifel Nicolaus reiterated a "hold" rating and set 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 shares of Everi in a research report on Monday. They set a "hold" rating for the company. Finally, Raymond James restated a "market perform" rating on shares of Everi in a research report on Monday, July 29th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, Everi currently has an average rating of "Hold" and a consensus price target of $12.88.

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.