Everi (NYSE:EVRI) Shares Down 7.9%

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Everi Holdings Inc (NYSE:EVRI) dropped 7.9% during trading on Thursday . The stock traded as low as $11.83 and last traded at $11.86, approximately 2,530,062 shares were traded during mid-day trading. An increase of 194% from the average daily volume of 860,277 shares. The stock had previously closed at $12.88.

A number of equities research analysts have issued reports on EVRI shares. ValuEngine lowered shares of Everi from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Raymond James set a $14.00 price target on shares of Everi and gave the stock a “buy” rating in a research note on Wednesday, August 7th. TheStreet raised Everi from a “d+” rating to a “c” rating in a research report on Tuesday, November 19th. Zacks Investment Research cut Everi from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Macquarie started coverage on Everi in a research note on Thursday, September 26th. They issued an “outperform” rating and a $12.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Everi currently has an average rating of “Buy” and an average target price of $12.60.

The stock’s 50 day moving average is $11.44 and its two-hundred day moving average is $10.70. The stock has a market capitalization of $908.79 million, a PE ratio of 118.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.74.

Everi (NYSE:EVRI) last issued its quarterly earnings results on Tuesday, November 5th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Everi had a net margin of 4.90% and a negative return on equity of 19.69%. The company had revenue of $134.60 million during the quarter, compared to the consensus estimate of $129.30 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts forecast that Everi Holdings Inc will post 0.34 EPS for the current year.

In other news, Director Geoffrey P. Judge sold 30,000 shares of Everi stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $12.52, for a total transaction of $375,600.00. Following the completion of the sale, the director now directly owns 134,672 shares of the company’s stock, valued at approximately $1,686,093.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 31,050 shares of company stock worth $386,363 over the last 90 days. Company insiders own 5.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. FMR LLC acquired a new position in shares of Everi during the 1st quarter worth about $29,000. NEXT Financial Group Inc increased its stake in Everi by 1,850.5% in the second quarter. NEXT Financial Group Inc now owns 6,066 shares of the credit services provider’s stock valued at $73,000 after purchasing an additional 5,755 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Everi during the second quarter worth approximately $1,123,000. Bailard Inc. lifted its position in shares of Everi by 25.6% during the 2nd quarter. Bailard Inc. now owns 15,700 shares of the credit services provider’s stock worth $187,000 after buying an additional 3,200 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Everi by 63.2% during the 2nd quarter. SG Americas Securities LLC now owns 292,156 shares of the credit services provider’s stock worth $3,485,000 after buying an additional 113,152 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

About Everi (NYSE:EVRI)

Everi Holdings Inc provides technology solutions for the casino gaming industry in the United States, Europe, Canada, the Caribbean, Central America, and Asia. The company operates in two segments, Games and FinTech. It offers gaming products, such as classic mechanical reel games, video reel games, core HDX, Empire MPX and the Texan HDX, wide area progressive games, and slot tournament systems; and sells player terminals, licenses, back office systems, and other related equipment.

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