Everi (NYSE:EVRI) Sets New 12-Month Low at $7.27

Everi Holdings Inc. (NYSE:EVRI)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $7.27 and last traded at $7.27, with a volume of 399341 shares changing hands. The stock had previously closed at $7.43.

Analyst Upgrades and Downgrades

Several research firms recently commented on EVRI. StockNews.com lowered shares of Everi from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Stifel Nicolaus cut their price objective on Everi from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. B. Riley initiated coverage on Everi in a research report on Friday, April 5th. They issued a “neutral” rating and a $12.00 target price for the company. Truist Financial dropped their target price on Everi from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $13.00 price target (down previously from $18.00) on shares of Everi in a report on Friday, March 1st. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.60.

Everi Stock Performance

The company has a debt-to-equity ratio of 4.18, a current ratio of 1.05 and a quick ratio of 0.96. The company has a market cap of $607.90 million, a P/E ratio of 11.40 and a beta of 2.09. The stock has a fifty day moving average price of $8.74 and a two-hundred day moving average price of $10.07.

Everi (NYSE:EVRI) last issued its quarterly earnings results on Wednesday, May 8th. The credit services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The business had revenue of $189.30 million for the quarter, compared to analyst estimates of $188.82 million. Everi had a net margin of 7.59% and a return on equity of 30.41%. Everi’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the business posted $0.39 earnings per share. On average, equities analysts forecast that Everi Holdings Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Randy L. Taylor sold 28,713 shares of Everi stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $7.65, for a total value of $219,654.45. Following the transaction, the chief executive officer now owns 585,281 shares of the company’s stock, valued at approximately $4,477,399.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Michael D. Rumbolz sold 5,040 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $7.60, for a total value of $38,304.00. Following the completion of the sale, the chairman now directly owns 1,082,062 shares of the company’s stock, valued at approximately $8,223,671.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Randy L. Taylor sold 28,713 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $7.65, for a total value of $219,654.45. Following the completion of the transaction, the chief executive officer now owns 585,281 shares in the company, valued at approximately $4,477,399.65. The disclosure for this sale can be found here. Insiders have sold 135,043 shares of company stock worth $1,073,022 in the last ninety days. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC acquired a new position in Everi in the fourth quarter worth approximately $52,000. LSV Asset Management acquired a new stake in shares of Everi during the 4th quarter valued at about $121,000. Oak Thistle LLC bought a new stake in Everi in the fourth quarter valued at $124,000. Principal Financial Group Inc. bought a new position in Everi in the 3rd quarter valued at $136,000. Finally, EntryPoint Capital LLC increased its position in Everi by 30.9% in the 1st quarter. EntryPoint Capital LLC now owns 13,545 shares of the credit services provider’s stock valued at $136,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.