King Luther Capital Management Corp Trims Stake in Everi Holdings Inc. (NYSE:EVRI)

King Luther Capital Management Corp reduced its holdings in shares of Everi Holdings Inc. (NYSE:EVRI) by 8.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 275,311 shares of the credit services provider’s stock after selling 24,949 shares during the period. King Luther Capital Management Corp owned about 0.33% of Everi worth $2,313,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in shares of Everi by 2,428.6% in the second quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock valued at $27,000 after purchasing an additional 3,060 shares during the period. CWM LLC boosted its position in shares of Everi by 117.5% in the 2nd quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 1,897 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Everi during the second quarter worth about $118,000. EntryPoint Capital LLC grew its position in Everi by 30.9% during the 1st quarter. EntryPoint Capital LLC now owns 13,545 shares of the credit services provider’s stock worth $136,000 after purchasing an additional 3,200 shares during the last quarter. Finally, MQS Management LLC acquired a new position in shares of Everi in the 2nd quarter valued at $141,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Darren Simmons sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total transaction of $982,500.00. Following the transaction, the executive vice president now directly owns 190,425 shares in the company, valued at $2,494,567.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mark F. Labay sold 10,645 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $12.95, for a total value of $137,852.75. Following the completion of the sale, the chief financial officer now directly owns 192,426 shares of the company’s stock, valued at approximately $2,491,916.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Darren Simmons sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total value of $982,500.00. Following the completion of the sale, the executive vice president now directly owns 190,425 shares of the company’s stock, valued at approximately $2,494,567.50. The disclosure for this sale can be found here. Insiders have sold 131,417 shares of company stock worth $1,713,281 in the last ninety days. 6.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial reduced their price target on shares of Everi from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Raymond James reiterated a “market perform” rating on shares of Everi in a research report on Monday, July 29th. B. Riley increased their price objective on shares of Everi from $11.00 to $14.25 and gave the company a “neutral” rating in a report on Monday, August 5th. Stifel Nicolaus reiterated a “hold” rating and set a $14.25 price target (up previously from $11.00) on shares of Everi in a report on Wednesday, July 31st. Finally, StockNews.com started coverage on Everi in a research report on Sunday, September 15th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.50.

Everi Stock Performance

Shares of EVRI stock opened at $13.14 on Friday. The stock has a market capitalization of $1.10 billion, a PE ratio of 20.22 and a beta of 2.15. The firm has a 50 day moving average of $12.23 and a two-hundred day moving average of $9.75. Everi Holdings Inc. has a 52 week low of $6.37 and a 52 week high of $14.03. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 3.94.

Everi (NYSE:EVRI) last issued its earnings results on Wednesday, August 7th. The credit services provider reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Everi had a net margin of 5.42% and a return on equity of 17.86%. The firm had revenue of $191.19 million during the quarter, compared to the consensus estimate of $190.00 million. On average, research analysts predict that Everi Holdings Inc. will post 0.49 EPS for the current fiscal year.

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.