Everi (NYSE:EVRI) Sees Large Volume Increase – Still a Buy?

Shares of Everi Holdings Inc. (NYSE:EVRI) saw an uptick in trading volume on Friday . 974,371 shares changed hands during mid-day trading, an increase of 72% from the previous session’s volume of 566,770 shares.The stock last traded at $13.63 and had previously closed at $13.64.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Everi in a report on Tuesday. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.88.

Everi Stock Performance

The company has a 50-day moving average price of $13.49 and a two-hundred day moving average price of $12.83. The stock has a market capitalization of $1.18 billion, a P/E ratio of 90.84 and a beta of 2.06. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 3.84.

Insider Buying and Selling at Everi

In related news, Director Linster W. Fox sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $13.48, for a total transaction of $539,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark F. Labay sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $13.38, for a total transaction of $669,000.00. Following the completion of the transaction, the chief financial officer now directly owns 142,426 shares in the company, valued at approximately $1,905,659.88. The trade was a 25.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,476 shares of company stock worth $3,435,636 in the last quarter. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everi

A number of institutional investors have recently made changes to their positions in EVRI. Huntington National Bank grew its stake in shares of Everi by 1,296.2% in the third quarter. Huntington National Bank now owns 5,892 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 5,470 shares during the last quarter. Quarry LP grew its position in shares of Everi by 38.9% in the 2nd quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after buying an additional 2,864 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Everi during the second quarter valued at approximately $104,000. Stifel Financial Corp raised its holdings in shares of Everi by 12.2% during the third quarter. Stifel Financial Corp now owns 13,059 shares of the credit services provider’s stock valued at $172,000 after acquiring an additional 1,423 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Everi in the fourth quarter valued at $175,000. 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.