Olympiad Research LP Invests $1.50 Million in Everi Holdings Inc. (NYSE:EVRI)

Olympiad Research LP purchased a new stake in Everi Holdings Inc. (NYSE:EVRI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 114,155 shares of the credit services provider’s stock, valued at approximately $1,500,000. Everi makes up about 1.0% of Olympiad Research LP’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVRI. Signaturefd LLC boosted its position in Everi by 2,428.6% during the 2nd quarter. Signaturefd LLC now owns 3,186 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 3,060 shares during the period. CWM LLC lifted its position in shares of Everi by 117.5% in the second quarter. CWM LLC now owns 3,512 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 1,897 shares in the last quarter. Quarry LP boosted its holdings in shares of Everi by 38.9% during the second quarter. Quarry LP now owns 10,230 shares of the credit services provider’s stock worth $86,000 after purchasing an additional 2,864 shares during the period. Magnetar Financial LLC purchased a new position in Everi during the second quarter valued at approximately $104,000. Finally, Meeder Asset Management Inc. acquired a new position in Everi in the 2nd quarter valued at approximately $118,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Everi Price Performance

Shares of NYSE:EVRI opened at $13.37 on Thursday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 28.45 and a beta of 2.13. The business has a 50-day moving average of $13.19 and a two-hundred day moving average of $10.65. Everi Holdings Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $13.44. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.05 and a quick ratio of 0.95.

Everi (NYSE:EVRI) last announced its earnings results on Wednesday, August 7th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. Everi had a return on equity of 17.86% and a net margin of 5.42%. The firm had revenue of $191.19 million during the quarter, compared to analysts’ expectations of $190.00 million. On average, equities research analysts predict that Everi Holdings Inc. will post 0.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EVRI shares. Truist Financial decreased their target price on shares of Everi from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. B. Riley lifted their price objective on Everi from $11.00 to $14.25 and gave the company a “neutral” rating in a research report on Monday, August 5th. StockNews.com assumed coverage on Everi in a research report on Saturday, November 2nd. They issued a “hold” rating on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $14.25 price target (up from $11.00) on shares of Everi in a report on Wednesday, July 31st. Finally, Raymond James reissued a “market perform” rating on shares of Everi in a research note on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.50.

Insider Transactions at Everi

In related news, EVP David Lucchese sold 4,124 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $12.99, for a total value of $53,570.76. Following the transaction, the executive vice president now directly owns 588,404 shares in the company, valued at approximately $7,643,367.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Darren Simmons sold 75,000 shares of Everi stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $13.10, for a total value of $982,500.00. Following the transaction, the executive vice president now directly owns 190,425 shares in the company, valued at approximately $2,494,567.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Lucchese sold 4,124 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $12.99, for a total value of $53,570.76. Following the sale, the executive vice president now owns 588,404 shares of the company’s stock, valued at approximately $7,643,367.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,417 shares of company stock worth $1,713,281. 6.40% of the stock is owned by insiders.

Everi 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.