Everi (NYSE:EVRI) Upgraded by StockNews.com to "Buy" Rating

Everi (NYSE:EVRI - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Thursday.

Everi Trading Down 1.3 %

Shares of NYSE EVRI traded down $0.18 during mid-day trading on Thursday, reaching $13.30. The company had a trading volume of 4,475,627 shares, compared to its average volume of 1,244,825. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 88.69 and a beta of 1.57. Everi has a 52 week low of $6.37 and a 52 week high of $13.83. The business's 50-day moving average is $13.67 and its 200-day moving average is $13.49. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 3.84.

Insider Activity

In related news, Director Geoffrey P. Judge sold 7,332 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $13.73, for a total value of $100,668.36. Following the completion of the sale, the director now directly owns 84,240 shares of the company's stock, valued at $1,156,615.20. This represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVRI. Vanguard Group Inc. raised its stake in Everi by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,857,966 shares of the credit services provider's stock worth $65,631,000 after acquiring an additional 47,844 shares during the last quarter. Water Island Capital LLC boosted its position in Everi by 14.5% in the fourth quarter. Water Island Capital LLC now owns 2,924,921 shares of the credit services provider's stock valued at $39,516,000 after buying an additional 370,704 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in 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 worth $29,914,000 after buying an additional 229,477 shares during the period. Geode Capital Management LLC raised its position in Everi by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,882,584 shares of the credit services provider's stock worth $25,440,000 after buying an additional 22,263 shares during the last quarter. Finally, AQR Arbitrage LLC lifted its stake in Everi by 27.5% during the 4th quarter. AQR Arbitrage LLC now owns 1,880,202 shares of the credit services provider's stock valued at $25,402,000 after acquiring an additional 405,831 shares during the period. Hedge funds and other 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.