Everi (NYSE:EVRI) Raised to Buy at BidaskClub

Everi (NYSE:EVRI) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, November 9th.

A number of other equities research analysts have also recently weighed in on EVRI. Stifel Nicolaus boosted their price objective on Everi from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Everi from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $7.33.

Shares of Everi (NYSE EVRI) opened at $8.78 on Thursday. Everi has a 52 week low of $2.08 and a 52 week high of $8.99. The company has a debt-to-equity ratio of -9.13, a current ratio of 0.98 and a quick ratio of 0.91.

Everi (NYSE:EVRI) last posted its earnings results on Monday, October 30th. The credit services provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.06. The firm had revenue of $247.32 million during the quarter, compared to analysts’ expectations of $228.37 million. Everi had a negative return on equity of 16,159.62% and a negative net margin of 25.82%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. analysts anticipate that Everi will post -0.5 earnings per share for the current fiscal year.

In other news, insider Michael D. Rumbolz sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $6.90, for a total transaction of $103,500.00. Following the completion of the sale, the insider now owns 121,742 shares in the company, valued at $840,019.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen F. Raney purchased 9,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were bought at an average price of $8.65 per share, with a total value of $77,850.00. Following the purchase, the director now directly owns 59,000 shares of the company’s stock, valued at $510,350. The disclosure for this purchase can be found here. In the last quarter, insiders sold 359,378 shares of company stock valued at $2,949,643. 4.50% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC grew its holdings in Everi by 7.1% during the second quarter. Citadel Advisors LLC now owns 88,549 shares of the credit services provider’s stock worth $645,000 after acquiring an additional 5,842 shares during the period. Bank of New York Mellon Corp grew its holdings in Everi by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 215,141 shares of the credit services provider’s stock valued at $1,633,000 after purchasing an additional 6,237 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Everi by 22.4% in the third quarter. New York State Common Retirement Fund now owns 66,200 shares of the credit services provider’s stock valued at $502,000 after purchasing an additional 12,100 shares during the last quarter. 1st Global Advisors Inc. acquired a new stake in Everi in the second quarter valued at $101,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in Everi by 9.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 168,564 shares of the credit services provider’s stock valued at $808,000 after purchasing an additional 14,364 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

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About Everi

Everi Holdings Inc is a holding company. The Company operates through subsidiaries, including Everi Games Holding Inc (Everi Games Holding) and Everi Payments Inc (Everi Payments or Payments). The Company operates through two segments: Games and Payments. The Company provides video and mechanical reel gaming content and technology solutions, integrated gaming payments solutions, and compliance and efficiency software.

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