Everi (NYSE:EVRI) Sets New 52-Week High – Still a Buy?

Everi Holdings Inc. (NYSE:EVRI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $13.70 and last traded at $13.70, with a volume of 403750 shares trading hands. The stock had previously closed at $13.62.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Everi in a report on Thursday. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.88.

Everi Price Performance

The stock has a market capitalization of $1.18 billion, a PE ratio of 91.21 and a beta of 2.05. The business’s 50-day moving average price is $13.54 and its 200 day moving average price is $13.17. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06.

Insider Buying and Selling

In related news, CFO Mark F. Labay sold 50,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $13.38, for a total value of $669,000.00. Following the transaction, the chief financial officer now owns 142,426 shares of the company’s stock, valued at $1,905,659.88. This represents a 25.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geoffrey P. Judge sold 4,000 shares of Everi stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $13.50, for a total value of $54,000.00. Following the sale, the director now directly owns 91,572 shares of the company’s stock, valued at approximately $1,236,222. This trade 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 worth $3,435,636 over the last ninety days. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Everi

Several institutional investors have recently modified their holdings of the company. Huntington National Bank boosted its stake in Everi by 1,296.2% in the third quarter. Huntington National Bank now owns 5,892 shares of the credit services provider’s stock worth $77,000 after buying an additional 5,470 shares in the last quarter. AlphaQuest LLC raised its position in Everi by 97.8% in the 4th quarter. AlphaQuest LLC now owns 9,449 shares of the credit services provider’s stock worth $128,000 after purchasing an additional 4,671 shares during the period. Proficio Capital Partners LLC bought a new stake in Everi in the fourth quarter worth $151,000. FNY Investment Advisers LLC purchased a new stake in Everi during the fourth quarter valued at about $175,000. Finally, Stifel Financial Corp grew its stake in shares of Everi by 12.2% during the third 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 last quarter. 95.47% of the stock is currently owned by institutional investors.

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.