Patient Capital Management LLC Sells 62,310 Shares of Everi Holdings Inc. (NYSE:EVRI)

Patient Capital Management LLC trimmed its position in Everi Holdings Inc. (NYSE:EVRI - Free Report) by 17.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,310 shares of the credit services provider's stock after selling 62,310 shares during the quarter. Patient Capital Management LLC owned 0.35% of Everi worth $4,057,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of Everi by 6.6% during the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider's stock worth $550,000 after buying an additional 2,564 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Everi during the fourth quarter worth $175,000. SG Americas Securities LLC lifted its holdings in shares of Everi by 14.8% during the fourth quarter. SG Americas Securities LLC now owns 36,908 shares of the credit services provider's stock worth $499,000 after purchasing an additional 4,772 shares during the period. Olympiad Research LP lifted its holdings in shares of Everi by 8.9% during the fourth quarter. Olympiad Research LP now owns 124,263 shares of the credit services provider's stock worth $1,679,000 after purchasing an additional 10,108 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Everi during the fourth quarter worth $151,000. 95.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Everi from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $12.83.

Insiders Place Their Bets

In other news, Director Geoffrey P. Judge sold 7,332 shares of Everi stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $13.73, for a total transaction of $100,668.36. Following the sale, the director now owns 84,240 shares of the company's stock, valued at approximately $1,156,615.20. The trade was a 8.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd A. Valli sold 30,000 shares of Everi stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $13.75, for a total transaction of $412,500.00. Following the transaction, the chief accounting officer now directly owns 57,413 shares of the company's stock, valued at approximately $789,428.75. This trade represents a 34.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company's stock.

Everi Price Performance

NYSE EVRI traded up $0.01 on Monday, hitting $14.09. The stock had a trading volume of 352,027 shares, compared to its average volume of 1,327,844. The firm has a 50-day moving average of $13.75 and a 200-day moving average of $13.62. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 93.91 and a beta of 1.31. Everi Holdings Inc. has a 52-week low of $6.37 and a 52-week high of $14.10. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06.

Everi (NYSE:EVRI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The credit services provider reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). The company had revenue of $181.30 million during the quarter, compared to the consensus estimate of $193.22 million. Everi had a return on equity of 5.47% and a net margin of 1.72%. Equities analysts expect that Everi Holdings Inc. will post 0.25 EPS for the current 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.