Everi (NYSE:EVRI) Hits New 52-Week High - Still a Buy?

Everi Holdings Inc. (NYSE:EVRI - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $14.23 and last traded at $14.22, with a volume of 302165 shares traded. The stock had previously closed at $14.17.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Everi from a "hold" rating to a "buy" rating in a research note 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, Everi presently has a consensus rating of "Hold" and a consensus price target of $12.83.

Everi Trading Down 0.1%

The company's 50-day simple moving average is $14.03 and its 200 day simple moving average is $13.75. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 3.60. The firm has a market capitalization of $1.23 billion, a PE ratio of 88.81 and a beta of 1.22.

Everi (NYSE:EVRI - Get Free Report) last announced 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 firm had revenue of $181.30 million during the quarter, compared to analyst estimates of $193.22 million. Everi had a net margin of 1.92% and a return on equity of 5.66%. As a group, sell-side analysts expect that Everi Holdings Inc. will post 0.25 EPS for the current year.

Insider Activity at Everi

In other Everi news, CAO Todd A. Valli sold 30,000 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $13.75, for a total value of $412,500.00. Following the completion of the transaction, the chief accounting officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Everi

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Everi by 0.4% during the first quarter. Vanguard Group Inc. now owns 4,878,355 shares of the credit services provider's stock valued at $66,687,000 after purchasing an additional 20,389 shares during the period. Water Island Capital LLC lifted its holdings in shares of Everi by 14.5% in the 4th quarter. Water Island Capital LLC now owns 2,924,921 shares of the credit services provider's stock valued at $39,516,000 after buying an additional 370,704 shares during the period. AQR Arbitrage LLC lifted its holdings in shares of Everi by 55.3% in the 1st quarter. AQR Arbitrage LLC now owns 2,920,703 shares of the credit services provider's stock valued at $39,926,000 after buying an additional 1,040,501 shares during the period. Millennium Management LLC boosted its stake in shares of Everi by 24.7% in the first quarter. Millennium Management LLC now owns 2,462,690 shares of the credit services provider's stock worth $33,665,000 after buying an additional 487,826 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Everi by 11.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,214,219 shares of the credit services provider's stock worth $29,914,000 after acquiring an additional 229,477 shares during the period. Institutional investors and hedge funds 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.