Everi Holdings Inc. (NYSE:EVRI) Sees Large Drop in Short Interest

Everi Holdings Inc. (NYSE:EVRI) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 3,200,000 shares, a decrease of 7.8% from the November 15th total of 3,470,000 shares. Based on an average trading volume of 615,100 shares, the short-interest ratio is currently 5.2 days. Approximately 3.9% of the shares of the company are short sold.

Everi Stock Up 0.3 %

Shares of NYSE EVRI opened at $13.50 on Wednesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 90.00 and a beta of 2.07. Everi has a one year low of $6.37 and a one year high of $13.50. The firm’s 50 day simple moving average is $13.37 and its two-hundred day simple moving average is $11.80. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Everi in a research note on Thursday, December 12th. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Everi currently has an average rating of “Hold” and a consensus price target of $12.88.

Insiders Place Their Bets

In related news, EVP Darren Simmons sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $13.46, for a total transaction of $673,000.00. Following the sale, the executive vice president now owns 140,425 shares of the company’s stock, valued at approximately $1,890,120.50. This represents a 26.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Lucchese sold 45,476 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $13.48, for a total transaction of $613,016.48. Following the completion of the transaction, the executive vice president now directly owns 542,928 shares of the company’s stock, valued at approximately $7,318,669.44. The trade was a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,476 shares of company stock worth $3,435,636 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

Several institutional investors and hedge funds have recently made changes to their positions in EVRI. Franklin Resources Inc. grew its stake in shares of Everi by 6.6% during the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock valued at $550,000 after buying an additional 2,564 shares during the last quarter. Virtu Financial LLC bought a new position in Everi during the 3rd quarter worth approximately $878,000. Geode Capital Management LLC grew its position in Everi by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,860,321 shares of the credit services provider’s stock worth $24,450,000 after acquiring an additional 27,670 shares during the last quarter. MML Investors Services LLC purchased a new stake in shares of Everi during the third quarter valued at approximately $223,000. Finally, Jane Street Group LLC boosted its stake in shares of Everi by 86.7% during the third quarter. Jane Street Group LLC now owns 162,951 shares of the credit services provider’s stock valued at $2,141,000 after purchasing an additional 75,655 shares during the period. Institutional investors 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.