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

Everi Holdings Inc. (NYSE:EVRI) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 2,770,000 shares, a drop of 5.1% from the December 31st total of 2,920,000 shares. Based on an average daily volume of 551,400 shares, the days-to-cover ratio is currently 5.0 days. Approximately 3.3% of the shares of the company are short sold.

Everi Trading Down 0.3 %

Shares of NYSE EVRI traded down $0.04 during midday trading on Monday, hitting $13.61. The stock had a trading volume of 541,674 shares, compared to its average volume of 562,123. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 90.71 and a beta of 2.05. Everi has a 1-year low of $6.37 and a 1-year high of $13.65. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The company has a fifty day moving average price of $13.52 and a 200 day moving average price of $13.09.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Everi in a research note on Wednesday, January 29th. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, Everi presently has a consensus rating of “Hold” and a consensus price target of $12.88.

Insider Buying and Selling

In other news, EVP Darren Simmons sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.46, for a total value of $673,000.00. Following the completion of the transaction, the executive vice president now owns 140,425 shares in the company, valued at $1,890,120.50. This trade represents a 26.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Geoffrey P. Judge sold 4,000 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $13.50, for a total value of $54,000.00. Following the completion of the transaction, the director now owns 91,572 shares of the company’s stock, valued at approximately $1,236,222. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,476 shares of company stock valued at $3,435,636 over the last three months. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Everi

Hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp raised its holdings in shares of Everi by 12.2% during the 3rd quarter. Stifel Financial Corp now owns 13,059 shares of the credit services provider’s stock valued at $172,000 after buying an additional 1,423 shares during the period. Franklin Resources Inc. increased its holdings in Everi by 6.6% during the 3rd quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock worth $550,000 after purchasing an additional 2,564 shares during the last quarter. Nordea Investment Management AB increased its holdings in Everi by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 295,960 shares of the credit services provider’s stock worth $3,995,000 after purchasing an additional 3,573 shares during the last quarter. SG Americas Securities LLC increased its holdings in Everi by 14.8% during the 4th quarter. SG Americas Securities LLC now owns 36,908 shares of the credit services provider’s stock worth $499,000 after purchasing an additional 4,772 shares during the last quarter. Finally, 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 purchasing an additional 5,470 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

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.