Everi Holdings Inc. (NYSE:EVRI) Position Reduced by M&T Bank Corp

M&T Bank Corp lowered its position in shares of Everi Holdings Inc. (NYSE:EVRI - Free Report) by 17.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,136 shares of the credit services provider's stock after selling 37,202 shares during the period. M&T Bank Corp owned approximately 0.20% of Everi worth $2,301,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MML Investors Services LLC purchased a new stake in Everi during the 3rd quarter worth approximately $223,000. Jane Street Group LLC grew its position in shares of Everi by 86.7% during the third quarter. Jane Street Group LLC now owns 162,951 shares of the credit services provider's stock worth $2,141,000 after buying an additional 75,655 shares in the last quarter. Villanova Investment Management Co LLC increased its stake in shares of Everi by 9.1% in the third quarter. Villanova Investment Management Co LLC now owns 175,133 shares of the credit services provider's stock worth $2,301,000 after buying an additional 14,680 shares during the last quarter. Stifel Financial Corp raised its holdings in Everi by 12.2% in the third quarter. Stifel Financial Corp now owns 13,059 shares of the credit services provider's stock valued at $172,000 after acquiring an additional 1,423 shares in the last quarter. Finally, Sand Grove Capital Management LLP bought a new position in Everi during the 3rd quarter valued at $15,806,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Everi in a research report on Thursday. They issued a "hold" rating for the company. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $12.88.

Everi Price Performance

Shares of NYSE:EVRI remained flat at $13.46 during trading on Friday. 478,563 shares of the company were exchanged, compared to its average volume of 1,325,054. The stock has a market cap of $1.16 billion, a PE ratio of 89.74 and a beta of 2.07. Everi Holdings Inc. has a twelve month low of $6.37 and a twelve month high of $13.50. The company's 50 day moving average is $13.36 and its 200 day moving average is $11.72. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97.

Insiders Place Their Bets

In related news, Director Geoffrey P. Judge sold 16,000 shares of the 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 directly owns 91,572 shares of the company's stock, valued at $1,224,317.64. This represents a 14.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark F. Labay sold 50,000 shares of Everi stock in a transaction on Monday, November 25th. The shares were sold at an average price of $13.38, for a total value of $669,000.00. Following the sale, the chief financial officer now directly owns 142,426 shares in the company, valued at $1,905,659.88. The trade was a 25.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,476 shares of company stock valued at $3,435,636 over the last three months. Company insiders own 6.40% 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.