Everi Holdings Inc. (NYSE:EVRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “Everi Holdings Inc. is a holding company which operates through subsidiaries, Global Cash Access, Inc. and Multimedia Games Holding Company, Inc. The Company’s segments include Games and Payments. Global Cash Access, Inc. provides integrated gaming payments solutions, video and mechanical reel gaming content and technology solutions, as well as compliance and software. Multimedia Games Holding Company, Inc., designs, manufactures and supplies gaming machines and systems. Everi Holdings Inc., formerly known as Global Cash Access Holdings, Inc., is headquartered in Las Vegas, United States. “

Shares of Everi Holdings (NYSE:EVRI) traded down 6.35% during mid-day trading on Monday, reaching $2.36. 152,807 shares of the company were exchanged. The stock’s market capitalization is $155.87 million. Everi Holdings has a 12 month low of $1.13 and a 12 month high of $5.29. The stock has a 50 day moving average price of $2.33 and a 200-day moving average price of $1.88.

Everi Holdings (NYSE:EVRI) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.06. Everi Holdings had a positive return on equity of 12.36% and a negative net margin of 14.01%. The firm earned $214 million during the quarter, compared to analysts’ expectations of $206.92 million. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts predict that Everi Holdings will post ($0.69) earnings per share for the current year.

In other news, Director Eileen F. Raney purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was bought at an average price of $2.15 per share, for a total transaction of $32,250.00. Following the completion of the purchase, the director now directly owns 36,000 shares of the company’s stock, valued at $77,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EVRI. Geode Capital Management LLC increased its position in shares of Everi Holdings by 1.3% in the first quarter. Geode Capital Management LLC now owns 405,573 shares of the company’s stock worth $928,000 after buying an additional 5,218 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Everi Holdings by 2.6% in the first quarter. Renaissance Technologies LLC now owns 371,449 shares of the company’s stock worth $851,000 after buying an additional 9,371 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Everi Holdings by 2.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 47,651 shares of the company’s stock worth $109,000 after buying an additional 1,126 shares during the last quarter. Royal Bank of Canada boosted its stake in Everi Holdings by 56.4% in the first quarter. Royal Bank of Canada now owns 65,617 shares of the company’s stock worth $150,000 after buying an additional 23,669 shares during the last quarter. Finally, 1st Global Advisors Inc. boosted its stake in Everi Holdings by 7.1% in the second quarter. 1st Global Advisors Inc. now owns 94,498 shares of the company’s stock worth $109,000 after buying an additional 6,240 shares during the last quarter. Institutional investors own 72.67% of the company’s stock.

About Everi Holdings

Everi Holdings Inc, formerly Global Cash Access Holdings, Inc, is a holding company. The Company operates through subsidiaries, including Everi Games Holding Inc and Everi Payments Inc It provides video and mechanical reel gaming content and technology solutions, integrated gaming payments solutions, and compliance and efficiency software.

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