Everi (NYSE:EVRI) Sets New 12-Month Low at $7.78

Everi Holdings Inc. (NYSE:EVRI) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $7.78 and last traded at $7.78, with a volume of 890 shares traded. The stock had previously closed at $8.09.

Wall Street Analysts Forecast Growth

EVRI has been the subject of several recent research reports. Truist Financial lowered their price objective on Everi from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. B. Riley initiated coverage on shares of Everi in a research note on Friday, April 5th. They issued a “neutral” rating and a $12.00 price objective on the stock. StockNews.com downgraded Everi from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price objective (down previously from $18.00) on shares of Everi in a research note on Friday, March 1st. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.00.

Everi Stock Up 0.7 %

The firm has a market cap of $682.81 million, a P/E ratio of 8.99 and a beta of 2.09. The stock’s 50 day simple moving average is $9.22 and its 200 day simple moving average is $10.30. The company has a debt-to-equity ratio of 4.28, a quick ratio of 0.97 and a current ratio of 1.05.

Everi (NYSE:EVRI) last posted its quarterly earnings data on Thursday, February 29th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.19). The firm had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $200.99 million. Everi had a return on equity of 42.93% and a net margin of 10.40%. Everi’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. Research analysts anticipate that Everi Holdings Inc. will post 0.91 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Darren Simmons sold 45,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $8.07, for a total value of $363,150.00. Following the transaction, the executive vice president now directly owns 152,550 shares of the company’s stock, valued at approximately $1,231,078.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Darren Simmons sold 45,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $8.07, for a total value of $363,150.00. Following the transaction, the executive vice president now directly owns 152,550 shares of the company’s stock, valued at approximately $1,231,078.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Todd A. Valli sold 15,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $8.05, for a total transaction of $120,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 49,440 shares in the company, valued at $397,992. The disclosure for this sale can be found here. Insiders have sold 90,000 shares of company stock valued at $729,000 in the last three months. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Everi

Several institutional investors have recently added to or reduced their stakes in EVRI. Wolverine Asset Management LLC bought a new stake in shares of Everi during the fourth quarter valued at about $52,000. LSV Asset Management bought a new stake in shares of Everi during the fourth quarter valued at about $121,000. Oak Thistle LLC bought a new stake in shares of Everi during the fourth quarter valued at about $124,000. Principal Financial Group Inc. bought a new position in shares of Everi in the third quarter worth approximately $136,000. Finally, AXQ Capital LP bought a new position in shares of Everi in the third quarter worth approximately $142,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.