Everi Holdings Inc. (NYSE:EVRI) Short Interest Up 6.3% in September

Everi Holdings Inc. (NYSE:EVRI) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,060,000 shares, an increase of 6.3% from the August 31st total of 2,880,000 shares. Based on an average daily volume of 2,180,000 shares, the short-interest ratio is currently 1.4 days. Approximately 3.7% of the shares of the company are short sold.

Insider Buying and Selling

In related news, EVP Darren Simmons sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.10, for a total transaction of $982,500.00. Following the completion of the transaction, the executive vice president now directly owns 190,425 shares in the company, valued at approximately $2,494,567.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Everi news, EVP Darren Simmons sold 75,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $13.10, for a total transaction of $982,500.00. Following the completion of the transaction, the executive vice president now directly owns 190,425 shares of the company’s stock, valued at approximately $2,494,567.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Lucchese sold 4,124 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $12.99, for a total transaction of $53,570.76. Following the completion of the sale, the executive vice president now owns 588,404 shares in the company, valued at approximately $7,643,367.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,417 shares of company stock valued at $1,713,281. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC lifted its stake in Everi by 85.3% during the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock valued at $23,400,000 after buying an additional 1,282,682 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Everi by 67.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock valued at $20,841,000 after acquiring an additional 745,022 shares in the last quarter. Private Capital Management LLC boosted its stake in Everi by 38.6% in 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 purchasing an additional 648,696 shares during the period. Burgundy Asset Management Ltd. grew its position in Everi by 1,230.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 683,938 shares of the credit services provider’s stock worth $5,745,000 after purchasing an additional 632,544 shares in the last quarter. Finally, Breach Inlet Capital Management LLC acquired a new stake in Everi during the 4th quarter valued at $6,051,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EVRI shares. Truist Financial lowered their price target on Everi from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. StockNews.com initiated coverage on shares of Everi in a research note on Tuesday. They set a “hold” rating on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.25 price target (up from $11.00) on shares of Everi in a research note on Wednesday, July 31st. Raymond James reiterated a “market perform” rating on shares of Everi in a research note on Monday, July 29th. Finally, B. Riley upped their target price on Everi from $11.00 to $14.25 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.50.

Everi Stock Performance

Shares of NYSE EVRI remained flat at $13.15 during midday trading on Tuesday. 879,914 shares of the company were exchanged, compared to its average volume of 1,532,367. Everi has a twelve month low of $6.37 and a twelve month high of $13.35. The stock has a market capitalization of $1.11 billion, a P/E ratio of 20.22 and a beta of 2.15. The stock has a 50 day moving average price of $12.78 and a 200 day moving average price of $9.92. The company has a current ratio of 1.05, a quick ratio of 0.95 and a debt-to-equity ratio of 3.94.

Everi (NYSE:EVRI) last announced its quarterly earnings data on Wednesday, August 7th. The credit services provider reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $191.19 million during the quarter, compared to the consensus estimate of $190.00 million. Everi had a return on equity of 17.86% and a net margin of 5.42%. Research analysts anticipate that Everi will post 0.49 earnings per share for the current fiscal year.

About Everi

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.