Everi (NYSE:EVRI) Reaches New 52-Week Low After Analyst Downgrade

Everi Holdings Inc. (NYSE:EVRI)’s share price reached a new 52-week low during mid-day trading 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.

Several other equities research analysts have also recently issued reports on EVRI. StockNews.com cut shares of Everi from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. B. Riley assumed coverage on shares of Everi in a research report on Friday, April 5th. They issued a “neutral” rating and a $12.00 target price 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 equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVRI. American Century Companies Inc. lifted its position in Everi by 36.4% during the third quarter. American Century Companies Inc. now owns 2,896,663 shares of the credit services provider’s stock valued at $38,294,000 after buying an additional 772,860 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Everi by 67.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock valued at $20,841,000 after buying an additional 745,022 shares in the last quarter. Private Capital Management LLC lifted its position in Everi by 38.6% during the fourth quarter. Private Capital Management LLC now owns 2,329,241 shares of the credit services provider’s stock valued at $26,251,000 after buying an additional 648,696 shares in the last quarter. Breach Inlet Capital Management LLC acquired a new position in Everi during the fourth quarter valued at approximately $6,051,000. Finally, Grizzlyrock Capital LLC acquired a new position in Everi during the fourth quarter valued at approximately $5,781,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Everi Trading Down 1.5 %

The stock has a market capitalization of $717.99 million, a price-to-earnings ratio of 9.52 and a beta of 2.05. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.05 and a quick ratio of 0.97. The business’s 50-day simple moving average is $9.78 and its two-hundred day simple moving average is $10.56.

Everi (NYSE:EVRI) last posted its quarterly earnings data on Thursday, February 29th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.19). The firm had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $200.99 million. Everi had a net margin of 10.40% and a return on equity of 42.93%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. On average, research analysts anticipate that Everi Holdings Inc. will post 0.97 earnings per share for the current fiscal 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.