StockNews.com Initiates Coverage on Everi (NYSE:EVRI)

Equities research analysts at StockNews.com initiated coverage on shares of Everi (NYSE:EVRI - Get Free Report) in a note issued to investors on Saturday. The firm set a "hold" rating on the credit services provider's stock.

Everi Price Performance

EVRI stock traded down $0.01 during midday trading on Friday, hitting $13.78. The company's stock had a trading volume of 575,760 shares, compared to its average volume of 521,377. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 91.84 and a beta of 2.05. 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 has a 12 month low of $6.37 and a 12 month high of $13.83. The company has a 50 day moving average of $13.61 and a two-hundred day moving average of $13.37.

Insider Activity

In other Everi news, Chairman Michael D. Rumbolz sold 50,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $13.47, for a total value of $673,500.00. Following the transaction, the chairman now owns 1,032,062 shares of the company's stock, valued at $13,901,875.14. This represents a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Lucchese sold 45,476 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.48, for a total transaction of $613,016.48. Following the completion of the transaction, the executive vice president now owns 542,928 shares in the company, valued at approximately $7,318,669.44. The trade was a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,476 shares of company stock valued at $2,552,716 in the last ninety days. Insiders own 6.40% of the company's stock.

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Hedge Funds Weigh In On Everi

A number of hedge funds and other institutional investors have recently modified their holdings of EVRI. Jane Street Group LLC raised its holdings in Everi by 86.7% in the third quarter. Jane Street Group LLC now owns 162,951 shares of the credit services provider's stock worth $2,141,000 after purchasing an additional 75,655 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Everi during the 3rd quarter worth approximately $232,000. Franklin Resources Inc. lifted its position in Everi by 6.6% during the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider's stock valued at $550,000 after acquiring an additional 2,564 shares during the last quarter. Huntington National Bank boosted its stake in Everi by 1,296.2% in the third quarter. Huntington National Bank now owns 5,892 shares of the credit services provider's stock valued at $77,000 after acquiring an additional 5,470 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in Everi in the third quarter worth $2,113,000. 95.47% of the stock is currently owned by institutional investors.

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.