Morgan Stanley boosted its stake in shares of Everi Holdings Inc. (NYSE:EVRI) by 52.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,444 shares of the credit services provider’s stock after purchasing an additional 70,306 shares during the quarter. Morgan Stanley’s holdings in Everi were worth $1,679,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Boston Partners bought a new stake in shares of Everi in the 3rd quarter valued at about $1,069,000. Diametric Capital LP grew its position in Everi by 866.5% in the 3rd quarter. Diametric Capital LP now owns 111,694 shares of the credit services provider’s stock valued at $921,000 after buying an additional 100,138 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Everi by 7.6% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 79,711 shares of the credit services provider’s stock valued at $658,000 after buying an additional 5,648 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Everi by 6,631.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 326,200 shares of the credit services provider’s stock valued at $86,000 after buying an additional 321,354 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Everi by 10.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,612 shares of the credit services provider’s stock valued at $261,000 after buying an additional 2,864 shares in the last quarter. Institutional investors and hedge funds own 83.15% of the company’s stock.
In related news, CEO Michael D. Rumbolz sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $12.52, for a total transaction of $500,800.00. Following the transaction, the chief executive officer now owns 436,032 shares of the company’s stock, valued at $5,459,120.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark F. Labay sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 17th. The shares were sold at an average price of $14.00, for a total transaction of $420,000.00. Following the transaction, the chief financial officer now directly owns 47,214 shares in the company, valued at approximately $660,996. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,750 shares of company stock worth $2,102,463. Insiders own 5.70% of the company’s stock.
Everi (NYSE:EVRI) last posted its quarterly earnings results on Monday, November 2nd. The credit services provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.17. The business had revenue of $112.10 million during the quarter, compared to analyst estimates of $90.23 million. Everi had a negative net margin of 21.25% and a negative return on equity of 474.12%. On average, analysts predict that Everi Holdings Inc. will post -0.88 EPS for the current year.
Several research firms have recently weighed in on EVRI. Zacks Investment Research lowered shares of Everi from a “buy” rating to a “hold” rating in a research report on Tuesday, January 5th. BidaskClub lowered shares of Everi from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 7th. BTIG Research raised their price objective on shares of Everi from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, December 4th. They noted that the move was a valuation call. ValuEngine upgraded shares of Everi from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st. Finally, Stifel Nicolaus started coverage on shares of Everi in a research note on Wednesday, December 9th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $13.14.
Everi Holdings Inc provides entertainment and technology solutions for the casino, interactive, and gaming industries in the United States, Europe, Canada, the Caribbean, Central America, and Asia. It operates in two segments, Games and FinTech. The company offers local and wide-area progressive gaming products, such as classic mechanical reel games, video reel games, Empire 5527, Empire Flex, Empire DCX, Empire MPX, Core HDX, and the Texan HDX; TournEvent, a slot tournament terminal and system machine; and sells player terminals, licenses, back office systems, and other related equipment.
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