Everi (NYSE:EVRI) Hits New 1-Year Low on Analyst Downgrade

Shares of Everi Holdings Inc. (NYSE:EVRI) reached a new 52-week low on Wednesday after Truist Financial lowered their price target on the stock from $13.00 to $11.00. Truist Financial currently has a hold rating on the stock. Everi traded as low as $8.41 and last traded at $8.44, with a volume of 215119 shares. The stock had previously closed at $8.70.

A number of other equities analysts have also weighed in on EVRI. StockNews.com lowered shares of Everi from a “buy” rating to a “hold” rating in a report on Friday, March 1st. B. Riley initiated coverage on shares of Everi in a report on Friday, April 5th. They set a “neutral” rating and a $12.00 price target on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $13.00 target price (down from $18.00) on shares of Everi in a research report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EVRI. SummerHaven Investment Management LLC boosted its position in shares of Everi by 2.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 49,848 shares of the credit services provider’s stock valued at $562,000 after buying an additional 998 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in Everi by 12.3% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 11,462 shares of the credit services provider’s stock valued at $152,000 after acquiring an additional 1,256 shares during the period. Kestra Advisory Services LLC raised its position in Everi by 5.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 47,252 shares of the credit services provider’s stock valued at $625,000 after purchasing an additional 2,425 shares in the last quarter. Bank of New York Mellon Corp raised its position in Everi by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 542,725 shares of the credit services provider’s stock valued at $7,175,000 after purchasing an additional 2,472 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Everi by 1.4% in the 3rd quarter. Swiss National Bank now owns 195,800 shares of the credit services provider’s stock worth $2,588,000 after acquiring an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Everi Trading Down 1.7 %

The company has a 50 day moving average of $9.82 and a two-hundred day moving average of $10.59. The company has a debt-to-equity ratio of 4.28, a quick ratio of 0.97 and a current ratio of 1.05. The stock has a market capitalization of $716.32 million, a PE ratio of 9.67 and a beta of 2.05.

Everi (NYSE:EVRI) last posted its earnings results on Thursday, February 29th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.19). The business had revenue of $192.00 million for the quarter, compared to analyst estimates of $200.99 million. Everi had a return on equity of 42.93% and a net margin of 10.40%. Everi’s revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. Sell-side analysts predict that Everi Holdings Inc. will post 0.97 EPS for the current year.

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.