Sand Grove Capital Management LLP Acquires Shares of 1,202,894 Everi Holdings Inc. (NYSE:EVRI)

Sand Grove Capital Management LLP bought a new position in shares of Everi Holdings Inc. (NYSE:EVRI - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,202,894 shares of the credit services provider's stock, valued at approximately $15,806,000. Everi accounts for approximately 6.2% of Sand Grove Capital Management LLP's holdings, making the stock its 10th biggest position. Sand Grove Capital Management LLP owned approximately 1.39% of Everi as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in shares of Everi by 2,428.6% during the 2nd quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider's stock worth $27,000 after purchasing an additional 3,060 shares during the last quarter. CWM LLC grew its holdings in Everi by 117.5% in the 2nd quarter. CWM LLC now owns 3,512 shares of the credit services provider's stock valued at $30,000 after buying an additional 1,897 shares in the last quarter. Huntington National Bank increased its stake in shares of Everi by 1,296.2% in the 3rd quarter. Huntington National Bank now owns 5,892 shares of the credit services provider's stock worth $77,000 after acquiring an additional 5,470 shares during the last quarter. Quarry LP raised its holdings in shares of Everi by 38.9% during the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider's stock worth $86,000 after acquiring an additional 2,864 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of Everi during the 2nd quarter valued at about $104,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

Insiders Place Their Bets

In related news, EVP Darren Simmons sold 75,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total value of $982,500.00. Following the completion of the transaction, the executive vice president now owns 190,425 shares of the company's stock, valued at approximately $2,494,567.50. This trade represents a 28.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark F. Labay sold 50,000 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $13.38, for a total transaction of $669,000.00. Following the completion of the transaction, the chief financial officer now directly owns 142,426 shares in the company, valued at $1,905,659.88. This trade represents a 25.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 141,000 shares of company stock valued at $1,865,420 over the last quarter. Company insiders own 6.40% of the company's stock.

Everi Stock Performance

Shares of NYSE:EVRI remained flat at $13.48 during trading on Thursday. The stock had a trading volume of 128,601 shares, compared to its average volume of 1,342,243. The company has a market capitalization of $1.16 billion, a P/E ratio of 89.81 and a beta of 2.07. Everi Holdings Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $13.50. The company has a 50-day simple moving average of $13.32 and a two-hundred day simple moving average of $11.40. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Everi in a research note on Wednesday. They issued a "hold" rating on the stock. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $12.88.

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.