Everi (NYSE:EVRI) Hits New 12-Month High - Here's What Happened

Shares of Everi Holdings Inc. (NYSE:EVRI - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $14.15 and last traded at $14.19, with a volume of 316076 shares changing hands. The stock had previously closed at $14.13.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Everi from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $12.83.

Everi Price Performance

The firm has a market cap of $1.23 billion, a PE ratio of 94.44 and a beta of 1.22. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The stock has a 50 day moving average price of $13.90 and a two-hundred day moving average price of $13.70.

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

Insiders Place Their Bets

In related news, CAO Todd A. Valli sold 30,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $13.75, for a total value of $412,500.00. Following the sale, the chief accounting officer now owns 57,413 shares in the company, valued at $789,428.75. This represents a 34.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geoffrey P. Judge sold 7,332 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $13.73, for a total value of $100,668.36. Following the completion of the sale, the director now owns 84,240 shares in the company, valued at approximately $1,156,615.20. This represents a 8.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Everi

A number of large investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its position in Everi by 3.2% in the fourth quarter. Arizona State Retirement System now owns 24,974 shares of the credit services provider's stock valued at $337,000 after buying an additional 765 shares during the last quarter. California State Teachers Retirement System boosted its position in Everi by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 80,128 shares of the credit services provider's stock valued at $1,083,000 after buying an additional 999 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Everi by 1.2% in the first quarter. SummerHaven Investment Management LLC now owns 85,572 shares of the credit services provider's stock valued at $1,170,000 after buying an additional 1,054 shares during the last quarter. Western Standard LLC boosted its position in Everi by 0.8% in the 4th quarter. Western Standard LLC now owns 144,650 shares of the credit services provider's stock worth $1,954,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Everi by 7.2% in the 1st quarter. Russell Investments Group Ltd. now owns 27,781 shares of the credit services provider's stock worth $380,000 after purchasing an additional 1,866 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.