Everi Holdings Inc. (NYSE:EVRI) Sees Significant Growth in Short Interest

Everi Holdings Inc. (NYSE:EVRI) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,060,000 shares, a growth of 6.3% from the August 31st total of 2,880,000 shares. Based on an average daily trading volume, of 2,180,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 3.7% of the company’s shares are sold short.

Insider Activity

In other news, CEO Randy L. Taylor sold 29,222 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $12.95, for a total transaction of $378,424.90. Following the transaction, the chief executive officer now directly owns 794,822 shares of the company’s stock, valued at $10,292,944.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mark F. Labay sold 10,645 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $12.95, for a total value of $137,852.75. Following the sale, the chief financial officer now directly owns 192,426 shares of the company’s stock, valued at $2,491,916.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Randy L. Taylor sold 29,222 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $12.95, for a total value of $378,424.90. Following the completion of the sale, the chief executive officer now directly owns 794,822 shares in the company, valued at $10,292,944.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,417 shares of company stock valued at $1,713,281. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everi

Large investors have recently made changes to their positions in the business. Signaturefd LLC lifted its position in Everi by 2,428.6% in the 2nd quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock valued at $27,000 after acquiring an additional 3,060 shares in the last quarter. CWM LLC lifted its position in Everi by 117.5% in the 2nd quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 1,897 shares in the last quarter. Quarry LP lifted its position in Everi by 38.9% in the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock valued at $86,000 after acquiring an additional 2,864 shares in the last quarter. Magnetar Financial LLC bought a new position in Everi in the 2nd quarter valued at approximately $104,000. Finally, Meeder Asset Management Inc. bought a new position in Everi in the 2nd quarter valued at approximately $118,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com assumed coverage on Everi in a research note on Tuesday. They issued a “hold” rating on the stock. Raymond James reissued a “market perform” rating on shares of Everi in a research note on Monday, July 29th. B. Riley lifted their price objective on Everi from $11.00 to $14.25 and gave the company a “neutral” rating in a research report on Monday, August 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $14.25 price objective (up from $11.00) on shares of Everi in a research report on Wednesday, July 31st. Finally, Truist Financial cut their price objective on Everi from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Everi presently has an average rating of “Hold” and an average price target of $13.50.

Everi Price Performance

Shares of EVRI stock remained flat at $13.15 during trading hours on Tuesday. 879,914 shares of the stock traded hands, compared to its average volume of 1,532,367. The stock has a 50-day moving average price of $12.78 and a two-hundred day moving average price of $9.92. Everi has a 1 year low of $6.37 and a 1 year high of $13.35. The firm has a market cap of $1.11 billion, a PE ratio of 20.22 and a beta of 2.15. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.95 and a current ratio of 1.05.

Everi (NYSE:EVRI) last released its earnings results on Wednesday, August 7th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Everi had a net margin of 5.42% and a return on equity of 17.86%. The firm had revenue of $191.19 million during the quarter, compared to analyst estimates of $190.00 million. On average, equities analysts forecast that Everi will post 0.49 earnings per share for the current fiscal year.

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.