Everi Holdings Inc. (EVRI) Upgraded to “Buy” at Zacks Investment Research
Everi Holdings Inc. (NYSE:EVRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $2.50 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 15.74% from the stock’s current price.
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. “
Everi Holdings (NYSE:EVRI) traded down 3.57% on Wednesday, reaching $2.16. 676,024 shares of the company traded hands. The stock’s 50 day moving average price is $2.30 and its 200 day moving average price is $1.96. The company’s market capitalization is $142.68 million. Everi Holdings has a one year low of $1.13 and a one year high of $4.50.
Everi Holdings (NYSE:EVRI) last posted its earnings results on Wednesday, November 9th. The company reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. Everi Holdings had a negative net margin of 14.04% and a negative return on equity of 4.76%. The firm earned $222.20 million during the quarter, compared to analysts’ expectations of $215.81 million. During the same period last year, the company posted $0.23 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that Everi Holdings will post ($0.68) EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of EVRI. 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 valued at $109,000 after buying an additional 6,240 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Everi Holdings by 35.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 188,667 shares of the company’s stock valued at $217,000 after buying an additional 49,070 shares in the last quarter. Emerald Advisers Inc. PA boosted its stake in Everi Holdings by 27.3% in the second quarter. Emerald Advisers Inc. PA now owns 410,982 shares of the company’s stock valued at $473,000 after buying an additional 88,039 shares in the last quarter. LMR Partners LLP bought a new stake in Everi Holdings during the second quarter valued at approximately $130,000. Finally, Mariner Investment Group LLC bought a new stake in Everi Holdings during the second quarter valued at approximately $338,000. 58.87% of the stock is owned by hedge funds and other institutional investors.
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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