Everi Holdings Inc. (EVRI) Hits New 52-Week High on Analyst Upgrade
Everi Holdings Inc. (NYSE:EVRI) shares hit a new 52-week high on Wednesday after Stifel Nicolaus raised their price target on the stock from $9.00 to $10.00. Stifel Nicolaus currently has a buy rating on the stock. Everi Holdings traded as high as $8.64 and last traded at $8.57, with a volume of 2,350,370 shares traded. The stock had previously closed at $7.42.
EVRI has been the subject of several other reports. Zacks Investment Research downgraded Everi Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. BidaskClub downgraded Everi Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine raised Everi Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $6.94.
In other news, Director Eileen F. Raney purchased 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average cost of $6.73 per share, for a total transaction of $94,220.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at $336,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of EVRI. Crescent Grove Advisors LLC purchased a new stake in shares of Everi Holdings during the second quarter valued at approximately $109,000. Bank of America Corp DE boosted its stake in shares of Everi Holdings by 7,800.0% in the first quarter. Bank of America Corp DE now owns 23,463 shares of the credit services provider’s stock valued at $112,000 after buying an additional 23,166 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Everi Holdings during the second quarter valued at approximately $121,000. Wayne Hummer Investments L.L.C. purchased a new stake in shares of Everi Holdings during the second quarter valued at approximately $124,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Everi Holdings during the first quarter valued at approximately $160,000. Hedge funds and other institutional investors own 72.53% of the company’s stock.
The stock’s market capitalization is $551.25 million. The company has a 50 day moving average of $7.41 and a 200 day moving average of $5.61.
Everi Holdings (NYSE:EVRI) last released its quarterly earnings results on Tuesday, August 8th. The credit services provider reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.20. Everi Holdings had a negative return on equity of 16,159.62% and a negative net margin of 26.88%. The business had revenue of $242.23 million during the quarter, compared to analyst estimates of $227.07 million. During the same quarter last year, the firm posted ($0.16) EPS. The company’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Everi Holdings Inc. will post ($0.30) EPS for the current fiscal year.
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About Everi Holdings
Everi Holdings Inc is a holding company. The Company operates through subsidiaries, including Everi Games Holding Inc (Everi Games Holding) and Everi Payments Inc (Everi Payments or Payments). The Company operates through two segments: Games and Payments. The Company provides video and mechanical reel gaming content and technology solutions, integrated gaming payments solutions, and compliance and efficiency software.
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