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

Equities research analysts at StockNews.com initiated coverage on shares of Everi (NYSE:EVRI) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the credit services provider’s stock.

Everi Stock Up 0.1 %

NYSE:EVRI opened at $13.62 on Wednesday. The firm has a market capitalization of $1.18 billion, a PE ratio of 90.77 and a beta of 2.05. Everi has a 52 week low of $6.37 and a 52 week high of $13.83. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 3.84. The stock has a 50 day moving average of $13.67 and a 200-day moving average of $13.46.

Insider Activity

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

Hedge Funds Weigh In On Everi

Several hedge funds have recently modified their holdings of the company. Intech Investment Management LLC bought a new position in shares of Everi in the third quarter valued at $232,000. Walleye Capital LLC purchased a new stake in Everi during the third quarter valued at about $255,000. Verition Fund Management LLC lifted its position in shares of Everi by 623.5% in the 3rd quarter. Verition Fund Management LLC now owns 134,193 shares of the credit services provider’s stock valued at $1,763,000 after acquiring an additional 115,644 shares in the last quarter. Westchester Capital Management LLC acquired a new position in Everi in the 3rd quarter worth approximately $16,662,000. Finally, Glazer Capital LLC purchased a new position in Everi during the 3rd quarter worth approximately $33,507,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.