Everi (NYSE:EVRI) Sees Strong Trading Volume – What’s Next?

Everi Holdings Inc. (NYSE:EVRI) shares saw unusually-high trading volume on Friday . Approximately 2,557,703 shares changed hands during trading, an increase of 221% from the previous session’s volume of 797,182 shares.The stock last traded at $13.50 and had previously closed at $13.65.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Everi from a “hold” rating to a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Everi currently has an average rating of “Hold” and an average target price of $12.83.

Everi Trading Down 1.2 %

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 89.91 and a beta of 1.57. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The company has a 50-day moving average price of $13.68 and a 200 day moving average price of $13.48.

Insider Buying and Selling

In other Everi news, Director Geoffrey P. Judge sold 7,332 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $13.73, for a total value of $100,668.36. Following the transaction, the director now directly owns 84,240 shares of the company’s stock, valued at $1,156,615.20. This represents a 8.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everi

Several institutional investors have recently bought and sold shares of EVRI. California State Teachers Retirement System boosted its position in Everi by 1.3% during the fourth quarter. California State Teachers Retirement System now owns 80,128 shares of the credit services provider’s stock worth $1,083,000 after purchasing an additional 999 shares during the period. CIBRA Capital Ltd bought a new position in shares of Everi in the fourth quarter worth about $1,351,000. Polar Asset Management Partners Inc. acquired a new position in shares of Everi during the 4th quarter worth about $4,728,000. Burgundy Asset Management Ltd. boosted its stake in Everi by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 731,635 shares of the credit services provider’s stock valued at $9,884,000 after purchasing an additional 12,454 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Everi by 4.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 237,330 shares of the credit services provider’s stock valued at $3,206,000 after buying an additional 10,144 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors.

Everi Company Profile

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.