Everi (NYSE:EVRI) Sees Strong Trading Volume – Still a Buy?

Everi Holdings Inc. (NYSE:EVRI) shares saw unusually-high trading volume on Wednesday . Approximately 696,981 shares were traded during trading, an increase of 19% from the previous session’s volume of 586,239 shares.The stock last traded at $13.64 and had previously closed at $13.68.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Everi in a research report on Monday. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Everi presently has an average rating of “Hold” and a consensus price target of $12.83.

Everi Stock Up 0.0 %

The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 90.57 and a beta of 2.05. The business’s 50 day moving average is $13.66 and its 200-day moving average is $13.42.

Insider Activity at Everi

In related news, Director Geoffrey P. Judge sold 7,332 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.73, for a total value of $100,668.36. Following the completion of the transaction, the director now directly owns 84,240 shares of the company’s stock, valued at approximately $1,156,615.20. This represents a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Everi

A number of large investors have recently modified their holdings of the business. Polar Asset Management Partners Inc. acquired a new position in Everi during the fourth quarter worth about $4,728,000. Burgundy Asset Management Ltd. boosted its holdings in shares of Everi by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 731,635 shares of the credit services provider’s stock worth $9,884,000 after purchasing an additional 12,454 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Everi by 4.5% in the fourth 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 purchasing an additional 10,144 shares in the last quarter. Western Standard LLC lifted its position in Everi by 0.8% during the fourth quarter. Western Standard LLC now owns 144,650 shares of the credit services provider’s stock worth $1,954,000 after buying an additional 1,200 shares in the last quarter. Finally, Sagefield Capital LP boosted its stake in Everi by 77.7% during the fourth quarter. Sagefield Capital LP now owns 144,318 shares of the credit services provider’s stock worth $1,950,000 after buying an additional 63,118 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.