Wells Fargo & Company MN Grows Holdings in Everi Holdings Inc. (EVRI)
Wells Fargo & Company MN increased its position in shares of Everi Holdings Inc. (NYSE:EVRI) by 434.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,727 shares of the credit services provider’s stock after buying an additional 45,297 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Everi Holdings worth $406,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC purchased a new stake in shares of Everi Holdings during the 2nd quarter valued at approximately $109,000. Legal & General Group Plc purchased a new stake in shares of Everi Holdings during the 2nd quarter valued at approximately $121,000. Wayne Hummer Investments L.L.C. purchased a new stake in shares of Everi Holdings during the 2nd quarter valued at approximately $124,000. Bank of America Corp DE raised its position in shares of Everi Holdings by 7,800.0% during the 1st quarter. Bank of America Corp DE now owns 23,463 shares of the credit services provider’s stock valued at $112,000 after buying an additional 23,166 shares during the period. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Everi Holdings during the 1st quarter valued at approximately $160,000. 85.45% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. BidaskClub downgraded shares of Everi Holdings from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Stifel Nicolaus lifted their target price on shares of Everi Holdings from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research downgraded shares of Everi Holdings from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Everi Holdings presently has a consensus rating of “Buy” and a consensus price target of $7.33.
In related news, Director Geoffrey P. Judge sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $8.36, for a total transaction of $250,800.00. Following the completion of the transaction, the director now owns 69,672 shares in the company, valued at $582,457.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael D. Rumbolz sold 15,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $6.90, for a total transaction of $103,500.00. Following the transaction, the insider now owns 121,742 shares of the company’s stock, valued at approximately $840,019.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,000 shares of company stock valued at $917,300. Insiders own 4.50% of the company’s stock.
Everi Holdings Inc. (EVRI) opened at $8.70 on Wednesday. The company has a debt-to-equity ratio of -9.13, a quick ratio of 0.91 and a current ratio of 0.98. Everi Holdings Inc. has a 12 month low of $2.08 and a 12 month high of $8.99.
Everi Holdings (NYSE:EVRI) last posted its quarterly earnings results on Monday, October 30th. The credit services provider reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.06. The business had revenue of $247.32 million during the quarter, compared to the consensus estimate of $228.37 million. Everi Holdings had a negative net margin of 25.82% and a negative return on equity of 16,159.62%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. sell-side analysts expect that Everi Holdings Inc. will post -0.5 EPS for the current fiscal year.
About Everi Holdings
Everi Holdings Inc is a holding company. The Company operates through subsidiaries, including Everi Games Holding Inc (Everi Games Holding) and Everi Payments Inc (Everi Payments or Payments). The Company operates through two segments: Games and Payments. The Company provides video and mechanical reel gaming content and technology solutions, integrated gaming payments solutions, and compliance and efficiency software.
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