Polar Asset Management Partners Inc. Takes $4.73 Million Position in Everi Holdings Inc. (NYSE:EVRI)

Polar Asset Management Partners Inc. bought a new position in Everi Holdings Inc. (NYSE:EVRI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 350,000 shares of the credit services provider's stock, valued at approximately $4,728,000. Polar Asset Management Partners Inc. owned approximately 0.41% of Everi at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vestcor Inc bought a new stake in shares of Everi in the 4th quarter worth about $28,000. AlphaQuest LLC raised its position in Everi by 97.8% during the fourth quarter. AlphaQuest LLC now owns 9,449 shares of the credit services provider's stock valued at $128,000 after purchasing an additional 4,671 shares during the period. EP Wealth Advisors LLC purchased a new stake in Everi during the fourth quarter valued at approximately $143,000. Proficio Capital Partners LLC bought a new stake in shares of Everi in the 4th quarter valued at approximately $151,000. Finally, Trans Canada Capital Inc. purchased a new position in shares of Everi in the 4th quarter worth approximately $253,000. 95.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Everi from a "hold" rating to a "buy" rating in a research 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.83.

Everi Trading Down 0.1%

NYSE EVRI traded down $0.01 during trading on Friday, hitting $14.12. The stock had a trading volume of 828,538 shares, compared to its average volume of 1,294,117. Everi Holdings Inc. has a one year low of $7.21 and a one year high of $14.15. The stock has a 50 day simple moving average of $13.85 and a 200 day simple moving average of $13.67. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 94.14 and a beta of 1.31. 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 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 the consensus estimate of $193.22 million. Everi had a return on equity of 5.47% and a net margin of 1.72%. Sell-side analysts predict that Everi Holdings Inc. will post 0.25 earnings per share for the current year.

Insider Activity

In related news, Director Geoffrey P. Judge sold 7,332 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was 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. The trade was a 8.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd A. Valli sold 30,000 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now owns 57,413 shares in the company, valued at $789,428.75. The trade was a 34.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.60% of the company's stock.

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.