Orvieto Partners L.P. Invests $3.18 Million in Everi Holdings Inc. (NYSE:EVRI)

Orvieto Partners L.P. purchased a new position in Everi Holdings Inc. (NYSE:EVRI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 235,000 shares of the credit services provider's stock, valued at approximately $3,175,000. Everi makes up approximately 2.7% of Orvieto Partners L.P.'s portfolio, making the stock its 15th largest position. Orvieto Partners L.P. owned 0.27% of Everi as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Everi by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,857,966 shares of the credit services provider's stock worth $65,631,000 after purchasing an additional 47,844 shares during the last quarter. Water Island Capital LLC increased its position in shares of Everi by 14.5% during the fourth quarter. Water Island Capital LLC now owns 2,924,921 shares of the credit services provider's stock valued at $39,516,000 after acquiring an additional 370,704 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of 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 valued at $29,914,000 after acquiring an additional 229,477 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Everi by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,882,584 shares of the credit services provider's stock valued at $25,440,000 after acquiring an additional 22,263 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Everi by 2.9% during the fourth quarter. Hsbc Holdings PLC now owns 1,734,907 shares of the credit services provider's stock valued at $23,421,000 after acquiring an additional 48,160 shares during the last quarter. Institutional investors own 95.47% of the company's stock.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief accounting officer now directly owns 57,413 shares of the company's stock, valued at $789,428.75. This trade represents a 34.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey P. Judge sold 7,332 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 84,240 shares of the company's stock, valued at $1,156,615.20. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.40% of the company's stock.

Everi Stock Performance

NYSE:EVRI traded up $0.14 during trading hours on Tuesday, reaching $13.99. The stock had a trading volume of 3,450,750 shares, compared to its average volume of 1,288,968. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06. The stock has a 50 day simple moving average of $13.67 and a 200 day simple moving average of $13.55. Everi Holdings Inc. has a 12-month low of $6.37 and a 12-month high of $14.02. The stock has a market cap of $1.21 billion, a P/E ratio of 93.24 and a beta of 1.57.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised 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 given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.