Everi Holdings Inc (NYSE:EVRI) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 1,462,519 shares, a decrease of 32.4% from the November 15th total of 2,163,134 shares. Based on an average daily trading volume, of 632,980 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.2% of the company’s shares are sold short.
In related news, Director Eileen F. Raney purchased 9,000 shares of Everi stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average cost of $8.65 per share, with a total value of $77,850.00. Following the completion of the transaction, the director now directly owns 59,000 shares of the company’s stock, valued at $510,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juliet Lim sold 133,515 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $8.33, for a total transaction of $1,112,179.95. Following the completion of the sale, the executive vice president now directly owns 43,370 shares of the company’s stock, valued at $361,272.10. The disclosure for this sale can be found here. Insiders have sold 344,378 shares of company stock valued at $2,846,143 over the last ninety days. Insiders own 4.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Gotham Asset Management LLC bought a new position in Everi during the second quarter valued at approximately $265,000. Wedge Capital Management L L P NC bought a new position in Everi during the second quarter valued at approximately $331,000. Wells Fargo & Company MN raised its position in Everi by 434.3% during the second quarter. Wells Fargo & Company MN now owns 55,727 shares of the credit services provider’s stock valued at $406,000 after acquiring an additional 45,297 shares in the last quarter. Eagle Asset Management Inc. raised its position in Everi by 6.8% during the second quarter. Eagle Asset Management Inc. now owns 3,159,785 shares of the credit services provider’s stock valued at $23,003,000 after acquiring an additional 201,951 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Everi by 125.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 380,700 shares of the credit services provider’s stock valued at $2,772,000 after acquiring an additional 212,136 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.
Everi (NYSE:EVRI) last posted its quarterly earnings results on Monday, October 30th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The business had revenue of $247.32 million during the quarter, compared to analyst estimates of $228.37 million. Everi had a negative net margin of 25.82% and a negative return on equity of 16,159.62%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) earnings per share. research analysts expect that Everi will post -0.5 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Everi from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Stifel Nicolaus reissued a “buy” rating and issued a $11.00 price target on shares of Everi in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $7.33.
Everi Company Profile
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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