Credit Suisse AG cut its stake in shares of Everi Holdings Inc. (NYSE:EVRI) by 34.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 57,072 shares of the credit services provider’s stock after selling 29,923 shares during the period. Credit Suisse AG’s holdings in Everi were worth $806,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. UBS Group AG lifted its position in Everi by 2.4% during the 1st quarter. UBS Group AG now owns 32,706 shares of the credit services provider’s stock worth $461,000 after acquiring an additional 764 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Everi by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 49,262 shares of the credit services provider’s stock worth $680,000 after acquiring an additional 1,208 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Everi during the 1st quarter worth approximately $37,000. LPL Financial LLC increased its holdings in Everi by 3.3% during the 4th quarter. LPL Financial LLC now owns 84,431 shares of the credit services provider’s stock worth $1,166,000 after purchasing an additional 2,684 shares during the last quarter. Finally, FMR LLC purchased a new stake in Everi during the 1st quarter worth approximately $29,000. 87.45% of the stock is currently owned by hedge funds and other institutional investors.
EVRI has been the topic of several analyst reports. Macquarie lifted their price objective on Everi from $19.00 to $25.00 in a report on Thursday, May 6th. Jefferies Financial Group initiated coverage on Everi in a report on Tuesday, July 6th. They set a “buy” rating and a $30.00 price objective on the stock. Raymond James lifted their price objective on Everi from $19.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 6th. TheStreet upgraded Everi from a “d+” rating to a “c+” rating in a report on Tuesday, May 25th. Finally, Zacks Investment Research upgraded Everi from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, May 11th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $23.67.
Everi (NYSE:EVRI) last issued its quarterly earnings results on Wednesday, May 5th. The credit services provider reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.17. Everi had a negative return on equity of 13,310.05% and a negative net margin of 11.65%. The business had revenue of $139.11 million during the quarter, compared to the consensus estimate of $123.64 million. Research analysts forecast that Everi Holdings Inc. will post 0.95 EPS for the current year.
In related news, EVP Darren Simmons sold 14,584 shares of the company’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $16.91, for a total transaction of $246,615.44. Following the completion of the transaction, the executive vice president now directly owns 47,824 shares in the company, valued at approximately $808,703.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Randy L. Taylor sold 49,859 shares of the company’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $25.56, for a total value of $1,274,396.04. Following the transaction, the chief operating officer now owns 249,355 shares of the company’s stock, valued at $6,373,513.80. The disclosure for this sale can be found here. Insiders sold a total of 166,696 shares of company stock valued at $3,745,086 over the last quarter. Company insiders own 5.80% of the company’s stock.
Everi Holdings Inc provides entertainment and technology solutions for the casino and digital gaming industries in the United States, Canada, the United Kingdom, Europe, the Caribbean, Central America, and Asia. It operates in two segments, Games and FinTech. The company offers local and wide-area progressive gaming products, such as classic mechanical reel games and video reel games, as well as TournEvent, a slot tournament terminal and system machine; and sells player terminals, licenses, back office systems, and other related equipment.
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