Everi (NYSE:EVRI) Reaches New 52-Week Low on Disappointing Earnings

Shares of Everi Holdings Inc. (NYSE:EVRI) reached a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $7.78 and last traded at $7.78, with a volume of 890 shares changing hands. The stock had previously closed at $8.09.

The credit services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). Everi had a return on equity of 42.93% and a net margin of 10.40%. The company had revenue of $189.30 million during the quarter, compared to analyst estimates of $188.82 million. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis.

Analysts Set New Price Targets

A number of research firms have commented on EVRI. Truist Financial reduced their price target on shares of Everi from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. StockNews.com lowered Everi from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. B. Riley initiated coverage on shares of Everi in a report on Friday, April 5th. They set a “neutral” rating and a $12.00 price objective on the stock. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price target (down from $18.00) on shares of Everi in a research note on Friday, March 1st. Finally, Stifel Nicolaus reduced their price objective on Everi from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Everi has a consensus rating of “Moderate Buy” and an average price target of $12.60.

Insider Activity

In related news, EVP Darren Simmons sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $8.07, for a total transaction of $363,150.00. Following the completion of the transaction, the executive vice president now owns 152,550 shares in the company, valued at $1,231,078.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Todd A. Valli sold 15,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $8.05, for a total transaction of $120,750.00. Following the sale, the chief accounting officer now owns 49,440 shares of the company’s stock, valued at $397,992. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Darren Simmons sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $8.07, for a total value of $363,150.00. Following the completion of the transaction, the executive vice president now owns 152,550 shares of the company’s stock, valued at $1,231,078.50. The disclosure for this sale can be found here. Insiders sold a total of 90,000 shares of company stock valued at $729,000 in the last ninety days. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EVRI. Vanguard Group Inc. boosted its stake in Everi by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,860,007 shares of the credit services provider’s stock worth $77,469,000 after purchasing an additional 64,529 shares during the period. American Century Companies Inc. lifted its stake in Everi by 36.4% in the 3rd quarter. American Century Companies Inc. now owns 2,896,663 shares of the credit services provider’s stock valued at $38,294,000 after acquiring an additional 772,860 shares in the last quarter. Private Capital Management LLC boosted its position in Everi by 38.6% during the 4th quarter. Private Capital Management LLC now owns 2,329,241 shares of the credit services provider’s stock worth $26,251,000 after acquiring an additional 648,696 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Everi by 2.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,156,636 shares of the credit services provider’s stock worth $28,511,000 after acquiring an additional 57,275 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Everi by 67.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock valued at $20,841,000 after purchasing an additional 745,022 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

Everi Stock Performance

The firm has a market cap of $653.90 million, a P/E ratio of 8.67 and a beta of 2.09. The stock’s 50-day moving average price is $9.07 and its 200 day moving average price is $10.27. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.05 and a quick ratio of 0.97.

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.