Everi (NYSE:EVRI) Hits New 12-Month High – Should You Buy?

Everi Holdings Inc. (NYSE:EVRI) reached a new 52-week high on Wednesday . The stock traded as high as $13.51 and last traded at $13.50, with a volume of 9152 shares. The stock had previously closed at $13.50.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Everi in a research report on Thursday, December 12th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Everi presently has a consensus rating of “Hold” and a consensus target price of $12.88.

Everi Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The business has a 50-day simple moving average of $13.37 and a two-hundred day simple moving average of $11.80. The stock has a market capitalization of $1.16 billion, a P/E ratio of 90.00 and a beta of 2.07.

Insider Activity

In related news, Director Geoffrey P. Judge sold 16,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $13.37, for a total value of $213,920.00. Following the transaction, the director now owns 91,572 shares in the company, valued at $1,224,317.64. This trade represents a 14.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael D. Rumbolz sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $13.47, for a total transaction of $673,500.00. Following the completion of the transaction, the chairman now directly owns 1,032,062 shares in the company, valued at $13,901,875.14. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,476 shares of company stock worth $3,435,636. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Everi

A number of hedge funds have recently modified their holdings of EVRI. Clearbridge Investments LLC grew its position in Everi by 85.3% in the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock valued at $23,400,000 after purchasing an additional 1,282,682 shares in the last quarter. Glazer Capital LLC bought a new stake in shares of Everi during the 3rd quarter worth approximately $33,507,000. Alpine Associates Management Inc. acquired a new stake in shares of Everi in the 3rd quarter valued at approximately $24,815,000. Geode Capital Management LLC grew its stake in shares of Everi by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,860,321 shares of the credit services provider’s stock valued at $24,450,000 after buying an additional 27,670 shares in the last quarter. Finally, Westchester Capital Management LLC bought a new stake in Everi during the third quarter worth $16,662,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.