Everi (NYSE:EVRI) Price Target Increased to $14.25 by Analysts at B. Riley

Everi (NYSE:EVRI) had its price target lifted by investment analysts at B. Riley from $11.00 to $14.25 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. B. Riley’s price objective would suggest a potential upside of 10.47% from the company’s previous close.

EVRI has been the topic of several other reports. Raymond James reaffirmed a “market perform” rating on shares of Everi in a research report on Monday, July 29th. Truist Financial cut their price objective on shares of Everi from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $14.25 target price (up previously from $11.00) on shares of Everi in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.50.

Everi Stock Performance

Everi stock traded down $0.08 during mid-day trading on Monday, reaching $12.90. The company’s stock had a trading volume of 1,950,195 shares, compared to its average volume of 1,679,947. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 4.18. Everi has a twelve month low of $6.37 and a twelve month high of $15.13. The business has a 50 day moving average price of $8.68 and a 200-day moving average price of $9.18. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 19.85 and a beta of 2.19.

Everi (NYSE:EVRI) last announced its quarterly earnings data on Wednesday, May 8th. The credit services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). Everi had a net margin of 7.59% and a return on equity of 30.41%. The business had revenue of $189.30 million for the quarter, compared to the consensus estimate of $188.82 million. During the same period in the prior year, the company earned $0.39 EPS. Everi’s quarterly revenue was down 5.6% on a year-over-year basis. Sell-side analysts predict that Everi will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark F. Labay sold 5,120 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $7.68, for a total transaction of $39,321.60. Following the completion of the transaction, the chief financial officer now owns 159,660 shares of the company’s stock, valued at $1,226,188.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Michael D. Rumbolz sold 5,040 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $7.60, for a total transaction of $38,304.00. Following the completion of the sale, the chairman now owns 1,082,062 shares in the company, valued at approximately $8,223,671.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark F. Labay sold 5,120 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $7.68, for a total value of $39,321.60. Following the sale, the chief financial officer now directly owns 159,660 shares of the company’s stock, valued at $1,226,188.80. The disclosure for this sale can be found here. Insiders have sold a total of 45,043 shares of company stock valued at $344,022 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Everi

Several hedge funds have recently modified their holdings of the stock. Sei Investments Co. boosted its position in shares of Everi by 13.7% in the first quarter. Sei Investments Co. now owns 546,745 shares of the credit services provider’s stock worth $5,495,000 after buying an additional 66,033 shares during the period. Goldman Sachs Group Inc. grew 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 purchasing an additional 745,022 shares in the last quarter. Breach Inlet Capital Management LLC acquired a new position in Everi in the 4th quarter valued at approximately $6,051,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Everi during the 1st quarter valued at $1,168,000. Finally, Clearbridge Investments LLC grew its holdings in shares of Everi by 0.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,471,387 shares of the credit services provider’s stock valued at $16,583,000 after acquiring an additional 7,097 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.