Glazer Capital LLC Takes $33.51 Million Position in Everi Holdings Inc. (NYSE:EVRI)

Glazer Capital LLC purchased a new stake in Everi Holdings Inc. (NYSE:EVRI) during the 3rd quarter, HoldingsChannel reports. The fund purchased 2,550,000 shares of the credit services provider’s stock, valued at approximately $33,507,000. Everi accounts for 2.0% of Glazer Capital LLC’s holdings, making the stock its 12th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC raised its position in shares of Everi by 2,428.6% in the second quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock valued at $27,000 after purchasing an additional 3,060 shares during the period. CWM LLC increased its holdings in Everi by 117.5% during the 2nd quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 1,897 shares during the period. Huntington National Bank increased its holdings in Everi by 1,296.2% during the 3rd quarter. Huntington National Bank now owns 5,892 shares of the credit services provider’s stock worth $77,000 after acquiring an additional 5,470 shares during the period. Quarry LP increased its holdings in Everi by 38.9% during the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after acquiring an additional 2,864 shares during the period. Finally, Magnetar Financial LLC bought a new stake in Everi during the 2nd quarter worth approximately $104,000. Institutional investors own 95.47% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mark F. Labay sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $13.38, for a total value of $669,000.00. Following the completion of the sale, the chief financial officer now owns 142,426 shares of the company’s stock, valued at approximately $1,905,659.88. This represents a 25.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Geoffrey P. Judge sold 16,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $13.37, for a total transaction of $213,920.00. Following the completion of the sale, the director now directly owns 91,572 shares of the company’s stock, valued at $1,224,317.64. This trade represents a 14.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,000 shares of company stock valued at $1,865,420 in the last quarter. Corporate insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Everi in a report on Tuesday. They set a “hold” rating on the stock. B. Riley upped their target price on shares of Everi from $11.00 to $14.25 and gave the stock a “neutral” rating in a report on Monday, August 5th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.88.

Everi Price Performance

EVRI stock opened at $13.47 on Friday. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97. Everi Holdings Inc. has a one year low of $6.37 and a one year high of $13.48. The stock has a market cap of $1.16 billion, a PE ratio of 89.77 and a beta of 2.13. The firm has a 50 day simple moving average of $13.30 and a two-hundred day simple moving average of $11.25.

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.