Everi Holdings Inc. (NYSE:EVRI) Sees Large Drop in Short Interest

Everi Holdings Inc. (NYSE:EVRI) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 2,770,000 shares, a decline of 5.1% from the December 31st total of 2,920,000 shares. Based on an average daily volume of 551,400 shares, the days-to-cover ratio is presently 5.0 days. Approximately 3.3% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Everi in a report on Wednesday, January 29th. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.88.

Insider Activity at Everi

In other Everi news, EVP Darren Simmons sold 50,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.46, for a total transaction of $673,000.00. Following the completion of the transaction, the executive vice president now owns 140,425 shares in the company, valued at approximately $1,890,120.50. The trade was a 26.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Lucchese sold 45,476 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $13.48, for a total value of $613,016.48. Following the transaction, the executive vice president now owns 542,928 shares of the company’s stock, valued at $7,318,669.44. This trade represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,476 shares of company stock worth $3,435,636 in the last 90 days. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EVRI. Glazer Capital LLC purchased a new position in shares of Everi in the third quarter worth approximately $33,507,000. Alpine Associates Management Inc. purchased a new position in Everi during the third quarter valued at approximately $24,815,000. Clearbridge Investments LLC grew its position in Everi by 85.3% during 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. Westchester Capital Management LLC purchased a new position in Everi during the third quarter valued at approximately $16,662,000. Finally, Sand Grove Capital Management LLP purchased a new position in Everi during the third quarter valued at approximately $15,806,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Everi Trading Down 0.3 %

Shares of NYSE EVRI traded down $0.04 during mid-day trading on Monday, hitting $13.61. 541,674 shares of the company traded hands, compared to its average volume of 562,123. The business has a 50 day moving average of $13.52 and a two-hundred day moving average of $13.09. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 90.71 and a beta of 2.05. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. Everi has a 1 year low of $6.37 and a 1 year high of $13.65.

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.