Ameriprise Financial Inc. Cuts Stock Position in Everi Holdings Inc. (NYSE:EVRI)

Ameriprise Financial Inc. lowered its position in Everi Holdings Inc. (NYSE:EVRI - Free Report) by 75.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 154,624 shares of the credit services provider's stock after selling 480,483 shares during the period. Ameriprise Financial Inc. owned 0.18% of Everi worth $2,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVRI. Vanguard Group Inc. increased its stake in shares of Everi by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,857,966 shares of the credit services provider's stock worth $65,631,000 after acquiring an additional 47,844 shares during the last quarter. Water Island Capital LLC increased its stake 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 worth $39,516,000 after acquiring an additional 370,704 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Everi by 11.6% in the 4th 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 last quarter. Geode Capital Management LLC increased its stake in shares of Everi by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,882,584 shares of the credit services provider's stock worth $25,440,000 after acquiring an additional 22,263 shares during the last quarter. Finally, AQR Arbitrage LLC increased its stake in shares of Everi by 27.5% in the 4th quarter. AQR Arbitrage LLC now owns 1,880,202 shares of the credit services provider's stock worth $25,402,000 after acquiring an additional 405,831 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Everi Trading Down 0.0%

Shares of NYSE:EVRI traded down $0.01 during midday trading on Tuesday, reaching $14.12. 394,619 shares of the company's stock were exchanged, compared to its average volume of 1,287,571. The firm's 50 day simple moving average is $13.87 and its two-hundred day simple moving average is $13.68. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 94.11 and a beta of 1.31. Everi Holdings Inc. has a fifty-two week low of $7.26 and a fifty-two week high of $14.15.

Everi (NYSE:EVRI - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The credit services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). The business had revenue of $181.30 million for the quarter, compared to analyst estimates of $193.22 million. Everi had a return on equity of 5.47% and a net margin of 1.72%. As a group, sell-side analysts forecast that Everi Holdings Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Everi

In other news, Director Geoffrey P. Judge sold 7,332 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $13.73, for a total transaction of $100,668.36. Following the completion of the transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd A. Valli sold 30,000 shares of the business'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 of the company's stock, valued at approximately $789,428.75. The trade was a 34.32% decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $12.83.

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.