Everi (NYSE:EVRI) Price Target Cut to $11.00

Everi (NYSE:EVRI) had its price target decreased by stock analysts at Stifel Nicolaus from $12.00 to $11.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the credit services provider’s stock. Stifel Nicolaus’ target price suggests a potential upside of 39.42% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of Everi from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. B. Riley initiated coverage on shares of Everi in a research note on Friday, April 5th. They set a “neutral” rating and a $12.00 price objective on the stock. Truist Financial dropped their price objective on shares of Everi from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective (down previously from $18.00) on shares of Everi in a research note on Friday, March 1st. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Everi currently has an average rating of “Moderate Buy” and an average price target of $12.60.

Everi Stock Down 0.9 %

NYSE:EVRI traded down $0.07 on Thursday, reaching $7.89. The stock had a trading volume of 87,812 shares, compared to its average volume of 1,066,282. The company has a current ratio of 1.05, a quick ratio of 0.97 and a debt-to-equity ratio of 4.28. The company has a 50-day moving average of $9.15 and a 200 day moving average of $10.28. The stock has a market cap of $661.02 million, a P/E ratio of 8.73 and a beta of 2.09. Everi has a 12-month low of $7.57 and a 12-month high of $17.85.

Everi (NYSE:EVRI) last issued its earnings results on Wednesday, May 8th. The credit services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The company had revenue of $189.30 million during the quarter, compared to analyst estimates of $188.82 million. Everi had a net margin of 10.40% and a return on equity of 42.93%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS. On average, research analysts predict that Everi will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Geoffrey P. Judge sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the sale, the director now owns 91,572 shares of the company’s stock, valued at $748,143.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Everi news, CAO Todd A. Valli sold 15,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $8.05, for a total value of $120,750.00. Following the transaction, the chief accounting officer now owns 49,440 shares of the company’s stock, valued at $397,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Geoffrey P. Judge sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00. Following the sale, the director now directly owns 91,572 shares in the company, valued at $748,143.24. The disclosure for this sale can be found here. Insiders have sold a total of 90,000 shares of company stock valued at $729,000 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Everi

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Everi in the third quarter worth $286,000. Bank of New York Mellon Corp lifted its position in Everi by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 542,725 shares of the credit services provider’s stock worth $7,175,000 after acquiring an additional 2,472 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Everi by 87.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,257 shares of the credit services provider’s stock valued at $849,000 after buying an additional 30,014 shares during the period. M&T Bank Corp lifted its stake in shares of Everi by 29.4% in the third quarter. M&T Bank Corp now owns 132,462 shares of the credit services provider’s stock valued at $1,751,000 after buying an additional 30,083 shares during the period. Finally, Duality Advisers LP lifted its stake in shares of Everi by 59.2% in the third quarter. Duality Advisers LP now owns 41,360 shares of the credit services provider’s stock valued at $547,000 after buying an additional 15,386 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.