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

Everi Holdings Inc. (NYSE:EVRI - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $13.81 and last traded at $13.78, with a volume of 943511 shares. The stock had previously closed at $13.74.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Everi in a report on Friday, February 14th. They issued a "hold" rating for the company. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $12.88.

Everi Stock Performance

The firm has a market capitalization of $1.19 billion, a P/E ratio of 91.97 and a beta of 2.05. 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 stock has a 50-day moving average of $13.59 and a 200 day moving average of $13.34.

Insider Activity

In other Everi news, EVP David Lucchese sold 45,476 shares of Everi stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.48, for a total value of $613,016.48. Following the sale, the executive vice president now owns 542,928 shares of the company's stock, valued at $7,318,669.44. This trade represents a 7.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Darren Simmons sold 50,000 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.46, for a total value of $673,000.00. Following the completion of the transaction, the executive vice president now 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. Insiders have sold a total of 239,476 shares of company stock valued at $3,221,716 in the last 90 days. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everi

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Everi by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,857,966 shares of the credit services provider's stock valued at $65,631,000 after acquiring an additional 47,844 shares in the last quarter. Water Island Capital LLC grew its holdings in shares of Everi by 14.5% in the 4th quarter. Water Island Capital LLC now owns 2,924,921 shares of the credit services provider's stock valued at $39,516,000 after acquiring an additional 370,704 shares in the last quarter. Glazer Capital LLC bought a new position in shares of Everi in the 3rd quarter valued at about $33,507,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Everi by 11.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,214,219 shares of the credit services provider's stock valued at $29,914,000 after acquiring an additional 229,477 shares in the last quarter. Finally, Alpine Associates Management Inc. bought a new position in shares of Everi in the 3rd quarter valued at about $24,815,000. Institutional investors own 95.47% of the company's stock.

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.