Water Island Capital LLC Grows Stock Holdings in Everi Holdings Inc. (NYSE:EVRI)

Water Island Capital LLC increased its holdings in Everi Holdings Inc. (NYSE:EVRI - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,924,921 shares of the credit services provider's stock after acquiring an additional 370,704 shares during the period. Everi comprises about 4.3% of Water Island Capital LLC's holdings, making the stock its 7th largest holding. Water Island Capital LLC owned approximately 3.39% of Everi worth $39,516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EVRI. Vanguard Group Inc. increased its position in Everi by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,857,966 shares of the credit services provider's stock worth $65,631,000 after purchasing an additional 47,844 shares during the last quarter. Geode Capital Management LLC lifted its stake in Everi by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,882,584 shares of the credit services provider's stock valued at $25,440,000 after acquiring an additional 22,263 shares during the last quarter. Highbridge Capital Management LLC grew its position in Everi by 147.8% in the fourth quarter. Highbridge Capital Management LLC now owns 1,392,408 shares of the credit services provider's stock worth $18,811,000 after acquiring an additional 830,470 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Everi by 12.9% during the 4th 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 purchasing an additional 141,627 shares during the last quarter. Finally, KRYGER CAPITAL Ltd lifted its stake in shares of Everi by 0.6% in the 4th quarter. KRYGER CAPITAL Ltd now owns 1,183,171 shares of the credit services provider's stock valued at $15,985,000 after purchasing an additional 7,479 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Insider Activity

In other news, Director Geoffrey P. Judge sold 7,332 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $13.73, for a total transaction of $100,668.36. Following the sale, the director now directly owns 84,240 shares in the company, valued at approximately $1,156,615.20. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Everi from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.83.

Everi Stock Performance

Shares of NYSE EVRI traded up $0.03 during trading hours on Thursday, hitting $13.78. 672,299 shares of the company's stock were exchanged, compared to its average volume of 1,034,982. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 91.84 and a beta of 1.57. The company's 50-day moving average price is $13.66 and its 200-day moving average price is $13.51. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97. Everi Holdings Inc. has a 1-year low of $6.37 and a 1-year high of $13.83.

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.