StockNews.com Downgrades Everi (NYSE:EVRI) to Hold

Posted by on Aug 6th, 2022

Everi (NYSE:EVRI – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other equities analysts have also weighed in on the stock. Truist Financial cut their target price on shares of Everi from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. B. Riley decreased their price target on shares of Everi from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, June 28th. Raymond James lifted their price target on shares of Everi from $23.00 to $26.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Finally, Stifel Nicolaus cut their target price on shares of Everi from $30.00 to $24.00 in a report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $28.75.

Everi Stock Up 1.4 %

Shares of NYSE EVRI opened at $20.03 on Thursday. The company has a debt-to-equity ratio of 4.60, a quick ratio of 1.16 and a current ratio of 1.27. Everi has a 52-week low of $15.05 and a 52-week high of $26.61. The company’s 50 day moving average price is $17.53 and its 200-day moving average price is $19.11. The company has a market capitalization of $1.85 billion, a P/E ratio of 12.60 and a beta of 2.50.

Everi (NYSE:EVRI – Get Rating) last posted its earnings results on Tuesday, May 10th. The credit services provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The firm had revenue of $175.60 million during the quarter, compared to analyst estimates of $169.38 million. Everi had a net margin of 21.84% and a return on equity of 79.27%. The business’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. Equities analysts forecast that Everi will post 1.31 earnings per share for the current year.

Insider Transactions at Everi

In other news, Director Geoffrey P. Judge sold 1,424 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $18.00, for a total transaction of $25,632.00. Following the sale, the director now directly owns 51,572 shares of the company’s stock, valued at approximately $928,296. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Geoffrey P. Judge sold 3,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $20.00, for a total transaction of $60,000.00. Following the transaction, the director now owns 51,572 shares of the company’s stock, valued at approximately $1,031,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Geoffrey P. Judge sold 1,424 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $18.00, for a total value of $25,632.00. Following the transaction, the director now directly owns 51,572 shares in the company, valued at approximately $928,296. The disclosure for this sale can be found here. Insiders have sold 7,424 shares of company stock valued at $142,632 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Everi

A number of institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in shares of Everi by 1.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,484,083 shares of the credit services provider’s stock worth $95,735,000 after purchasing an additional 61,076 shares during the last quarter. Emerald Advisers LLC lifted its position in Everi by 8.7% during the first quarter. Emerald Advisers LLC now owns 2,033,569 shares of the credit services provider’s stock worth $42,705,000 after buying an additional 163,229 shares in the last quarter. Invesco Ltd. lifted its position in Everi by 12.4% during the first quarter. Invesco Ltd. now owns 2,000,823 shares of the credit services provider’s stock worth $42,018,000 after buying an additional 220,937 shares in the last quarter. State Street Corp lifted its position in Everi by 5.0% during the first quarter. State Street Corp now owns 1,868,218 shares of the credit services provider’s stock worth $39,233,000 after buying an additional 89,784 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Everi by 71.3% during the fourth quarter. Millennium Management LLC now owns 1,783,630 shares of the credit services provider’s stock worth $38,081,000 after buying an additional 742,468 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Everi Company Profile

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Everi Holdings Inc provides entertainment and technology solutions for the casino and digital gaming industries in the United States, Canada, the United Kingdom, Europe, the Caribbean, Central America, and Asia. It operates in two segments, Games and FinTech. The company offers local and wide-area progressive gaming products, such as classic mechanical reel games and video reel games, as well as TournEvent, a slot tournament terminal and system machine; and sells player terminals, licenses, game content, and related equipment.

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