Short Interest in Everi Holdings Inc. (NYSE:EVRI) Decreases By 5.8%

Everi Holdings Inc. (NYSE:EVRI) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,430,000 shares, a drop of 5.8% from the January 15th total of 2,580,000 shares. Based on an average daily volume of 537,400 shares, the days-to-cover ratio is presently 4.5 days. Currently, 2.9% of the shares of the company are sold short.

Insider Buying and Selling

In related news, CFO Mark F. Labay sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $13.38, for a total value of $669,000.00. Following the transaction, the chief financial officer now directly owns 142,426 shares of the company’s stock, valued at approximately $1,905,659.88. This trade represents a 25.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Geoffrey P. Judge sold 4,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $13.50, for a total value of $54,000.00. Following the completion of the transaction, the director now directly owns 91,572 shares in the company, valued at approximately $1,236,222. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 239,476 shares of company stock valued at $3,221,716. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC grew its position in shares of Everi by 86.7% during the third quarter. Jane Street Group LLC now owns 162,951 shares of the credit services provider’s stock valued at $2,141,000 after purchasing an additional 75,655 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Everi during the third quarter valued at about $232,000. Franklin Resources Inc. grew its position in shares of Everi by 6.6% during the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock valued at $550,000 after purchasing an additional 2,564 shares in the last quarter. Huntington National Bank grew its position in shares of Everi by 1,296.2% during the third quarter. Huntington National Bank now owns 5,892 shares of the credit services provider’s stock valued at $77,000 after purchasing an additional 5,470 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of Everi during the third quarter valued at about $2,113,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Everi Trading Up 0.3 %

Shares of EVRI stock opened at $13.78 on Wednesday. Everi has a 52-week low of $6.37 and a 52-week high of $13.81. 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 firm has a market capitalization of $1.19 billion, a PE ratio of 91.84 and a beta of 2.05. The stock has a fifty day simple moving average of $13.57 and a two-hundred day simple moving average of $13.33.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Everi in a research note on Friday, February 14th. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.88.

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.