Everi (NYSE:EVRI) Hits New 1-Year High - Here's Why

Everi Holdings Inc. (NYSE:EVRI - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $14.06 and last traded at $14.04, with a volume of 3170349 shares changing hands. The stock had previously closed at $13.99.

Wall Street Analyst Weigh In

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

Everi Stock Performance

The stock's 50 day moving average is $13.69 and its two-hundred day moving average is $13.57. The firm has a market capitalization of $1.21 billion, a P/E ratio of 93.57 and a beta of 1.31. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97.

Insider Buying and Selling at Everi

In related news, Director Geoffrey P. Judge sold 7,332 shares of the 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 sale, the director now directly owns 84,240 shares in the company, valued at $1,156,615.20. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Todd A. Valli sold 30,000 shares of Everi stock in a transaction that occurred on Monday, April 21st. The stock was 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 in the company, valued at $789,428.75. The trade was a 34.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Institutional Trading of Everi

A number of large investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in Everi by 6.6% in the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider's stock valued at $550,000 after acquiring an additional 2,564 shares during the period. Nordea Investment Management AB grew its position in shares of Everi by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 295,960 shares of the credit services provider's stock valued at $3,995,000 after purchasing an additional 3,573 shares during the period. FNY Investment Advisers LLC bought a new stake in Everi during the 4th quarter worth approximately $175,000. SG Americas Securities LLC raised its holdings in Everi by 14.8% during the 4th quarter. SG Americas Securities LLC now owns 36,908 shares of the credit services provider's stock worth $499,000 after buying an additional 4,772 shares during the period. Finally, Olympiad Research LP raised its holdings in Everi by 8.9% during the 4th quarter. Olympiad Research LP now owns 124,263 shares of the credit services provider's stock worth $1,679,000 after buying an additional 10,108 shares during the period. 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.