Everi (NYSE:EVRI) Reaches New 1-Year High - Here's What Happened

Everi Holdings Inc. (NYSE:EVRI - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.51 and last traded at $13.50, with a volume of 9152 shares. The stock had previously closed at $13.50.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Everi in a research report on Thursday, December 12th. They set a "hold" rating for the company. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.88.

Everi Price Performance

The stock has a market capitalization of $1.16 billion, a P/E ratio of 89.81 and a beta of 2.07. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06. The firm has a 50-day moving average price of $13.37 and a 200 day moving average price of $11.85.

Insiders Place Their Bets

In other news, Director Geoffrey P. Judge sold 16,000 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $13.37, for a total transaction 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 approximately $1,224,317.64. This represents a 14.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Darren Simmons sold 50,000 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.46, for a total value of $673,000.00. Following the completion of the sale, the executive vice president now directly owns 140,425 shares of the company's stock, valued at $1,890,120.50. The trade was a 26.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,476 shares of company stock valued at $3,435,636. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Everi

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Glazer Capital LLC purchased a new stake in shares of Everi in the 3rd quarter worth approximately $33,507,000. Alpine Associates Management Inc. purchased a new stake in shares of Everi in the third quarter worth $24,815,000. Clearbridge Investments LLC increased its holdings in shares of Everi by 85.3% during the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider's stock valued at $23,400,000 after acquiring an additional 1,282,682 shares in the last quarter. Westchester Capital Management LLC purchased a new position in shares of Everi in the 3rd quarter worth about $16,662,000. Finally, Sand Grove Capital Management LLP bought a new position in Everi in the 3rd quarter worth about $15,806,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.