B. Riley Increases Everi (NYSE:EVRI) Price Target to $14.25

Everi (NYSE:EVRI) had its target price lifted by B. Riley from $11.00 to $14.25 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock. B. Riley also issued estimates for Everi’s Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.19 EPS, FY2024 earnings at $0.43 EPS, Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.21 EPS and FY2025 earnings at $0.80 EPS.

A number of other research firms also recently issued reports on EVRI. Stifel Nicolaus reiterated a hold rating and set a $14.25 price target (up previously from $11.00) on shares of Everi in a research note on Wednesday, July 31st. Truist Financial dropped their target price on Everi from $11.00 to $10.00 and set a hold rating on the stock in a report on Thursday, July 18th. Finally, Raymond James reiterated a market perform rating on shares of Everi in a report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $13.50.

Everi Price Performance

Shares of EVRI opened at $12.97 on Monday. The business’s fifty day moving average is $9.18 and its 200 day moving average is $9.26. Everi has a 12-month low of $6.37 and a 12-month high of $15.13. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 4.18. The stock has a market cap of $1.09 billion, a P/E ratio of 19.95 and a beta of 2.19.

Everi (NYSE:EVRI) last released its quarterly earnings data on Wednesday, May 8th. The credit services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). The business had revenue of $189.30 million for the quarter, compared to analyst estimates of $188.82 million. Everi had a return on equity of 30.41% and a net margin of 7.59%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 EPS. Sell-side analysts anticipate that Everi will post 0.64 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mark F. Labay sold 5,120 shares of Everi stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $7.68, for a total transaction of $39,321.60. Following the sale, the chief financial officer now directly owns 159,660 shares in the company, valued at $1,226,188.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Everi news, Chairman Michael D. Rumbolz sold 5,040 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $7.60, for a total value of $38,304.00. Following the transaction, the chairman now directly owns 1,082,062 shares in the company, valued at $8,223,671.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark F. Labay sold 5,120 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $7.68, for a total transaction of $39,321.60. Following the sale, the chief financial officer now owns 159,660 shares of the company’s stock, valued at approximately $1,226,188.80. The disclosure for this sale can be found here. Insiders sold a total of 45,043 shares of company stock valued at $344,022 over the last three months. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake 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 buying an additional 745,022 shares during the period. Private Capital Management LLC raised 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 valued at $26,251,000 after acquiring an additional 648,696 shares during the period. Breach Inlet Capital Management LLC purchased a new stake in Everi during the fourth quarter valued at about $6,051,000. Grizzlyrock Capital LLC bought a new position in Everi during the fourth quarter worth about $5,781,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Everi by 54.8% in the first quarter. Assenagon Asset Management S.A. now owns 1,094,062 shares of the credit services provider’s stock worth $10,995,000 after purchasing an additional 387,118 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.