Adage Capital Partners GP L.L.C. Acquires 229,477 Shares of Everi Holdings Inc. (NYSE:EVRI)

Adage Capital Partners GP L.L.C. grew its position in Everi Holdings Inc. (NYSE:EVRI - Free Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,214,219 shares of the credit services provider's stock after purchasing an additional 229,477 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 2.57% of Everi worth $29,914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Highbridge Capital Management LLC grew its position in Everi by 147.8% during the 4th quarter. Highbridge Capital Management LLC now owns 1,392,408 shares of the credit services provider's stock worth $18,811,000 after purchasing an additional 830,470 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Everi by 3,126.6% during the 4th quarter. Marshall Wace LLP now owns 429,133 shares of the credit services provider's stock worth $5,798,000 after buying an additional 415,833 shares during the last quarter. Water Island Capital LLC raised its holdings in shares of Everi by 14.5% in the fourth quarter. Water Island Capital LLC now owns 2,924,921 shares of the credit services provider's stock worth $39,516,000 after acquiring an additional 370,704 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Everi in the 4th quarter worth approximately $4,361,000. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Everi by 12.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,240,177 shares of the credit services provider's stock worth $16,755,000 after acquiring an additional 141,627 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Everi Stock Performance

NYSE EVRI traded up $0.14 during trading hours on Tuesday, hitting $13.99. The company had a trading volume of 5,081,589 shares, compared to its average volume of 1,295,252. The business has a fifty day simple moving average of $13.67 and a 200-day simple moving average of $13.55. The firm has a market cap of $1.21 billion, a P/E ratio of 93.24 and a beta of 1.57. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. Everi Holdings Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $14.02.

Insider Buying and Selling at Everi

In related news, CAO Todd A. Valli sold 30,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $13.75, for a total value of $412,500.00. Following the sale, the chief accounting officer now directly owns 57,413 shares in the company, valued at $789,428.75. The trade was a 34.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Geoffrey P. Judge sold 7,332 shares of Everi stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.73, for a total value of $100,668.36. Following the completion of the transaction, the director now owns 84,240 shares in the company, valued at $1,156,615.20. The trade was a 8.01 % 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 company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Everi from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Everi currently has a consensus rating of "Hold" and an average price target of $12.83.

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.