Clearbridge Investments LLC Acquires 1,282,682 Shares of Everi Holdings Inc. (NYSE:EVRI)

Clearbridge Investments LLC raised its holdings in Everi Holdings Inc. (NYSE:EVRI - Free Report) by 85.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,785,753 shares of the credit services provider's stock after buying an additional 1,282,682 shares during the quarter. Clearbridge Investments LLC owned 3.31% of Everi worth $23,400,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of Everi by 38.9% in the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider's stock worth $86,000 after purchasing an additional 2,864 shares in the last quarter. Creative Planning lifted its holdings in shares of Everi by 528.2% in the 2nd quarter. Creative Planning now owns 65,041 shares of the credit services provider's stock worth $546,000 after purchasing an additional 54,687 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Everi by 815.1% in the 2nd quarter. Algert Global LLC now owns 159,964 shares of the credit services provider's stock worth $1,344,000 after purchasing an additional 142,484 shares in the last quarter. Long Pond Capital LP bought a new position in shares of Everi in the 2nd quarter worth $4,453,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Everi by 85.7% in the 2nd quarter. Mackenzie Financial Corp now owns 24,114 shares of the credit services provider's stock worth $203,000 after purchasing an additional 11,129 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Everi Price Performance

Shares of Everi stock remained flat at $13.15 during trading hours on Friday. The stock had a trading volume of 756,393 shares, compared to its average volume of 1,526,744. Everi Holdings Inc. has a 1 year low of $6.37 and a 1 year high of $13.35. The stock has a market capitalization of $1.11 billion, a PE ratio of 20.23 and a beta of 2.15. The stock's 50-day moving average is $13.03 and its two-hundred day moving average is $10.02. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.05 and a quick ratio of 0.95.

Everi (NYSE:EVRI - Get Free Report) last announced its earnings results on Wednesday, August 7th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Everi had a return on equity of 17.86% and a net margin of 5.42%. The firm had revenue of $191.19 million during the quarter, compared to analyst estimates of $190.00 million. On average, analysts forecast that Everi Holdings Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EVRI shares. B. Riley increased their target price on Everi from $11.00 to $14.25 and gave the stock a "neutral" rating in a report on Monday, August 5th. StockNews.com began coverage on Everi in a research note on Tuesday. They set a "hold" rating on the stock. Stifel Nicolaus restated a "hold" rating and set a $14.25 price objective (up from $11.00) on shares of Everi in a research note on Wednesday, July 31st. Raymond James restated a "market perform" rating on shares of Everi in a research note on Monday, July 29th. Finally, Truist Financial dropped their price objective on Everi from $11.00 to $10.00 and set a "hold" rating on the stock in a research note on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $13.50.

Insider Activity

In other news, EVP Kate C. Lowenhar-Fisher sold 12,026 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $12.95, for a total transaction of $155,736.70. Following the completion of the sale, the executive vice president now directly owns 68,477 shares of the company's stock, valued at $886,777.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Kate C. Lowenhar-Fisher sold 12,026 shares of Everi stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $12.95, for a total value of $155,736.70. Following the completion of the sale, the executive vice president now owns 68,477 shares of the company's stock, valued at approximately $886,777.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Darren Simmons sold 75,000 shares of Everi stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $13.10, for a total value of $982,500.00. Following the completion of the sale, the executive vice president now directly owns 190,425 shares of the company's stock, valued at approximately $2,494,567.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,417 shares of company stock valued at $1,713,281 in the last ninety days. 6.40% of the stock is currently owned by insiders.

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.