Everi Holdings Inc. (NYSE:EVRI) Short Interest Down 8.8% in December

Everi Holdings Inc. (NYSE:EVRI) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 2,920,000 shares, a decrease of 8.8% from the November 30th total of 3,200,000 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 586,400 shares, the days-to-cover ratio is currently 5.0 days.

Insiders Place Their Bets

In other news, CFO Mark F. Labay sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $13.38, for a total value of $669,000.00. Following the completion of the sale, the chief financial officer now owns 142,426 shares of the company’s stock, valued at approximately $1,905,659.88. The trade was a 25.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Geoffrey P. Judge sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $13.37, for a total value of $213,920.00. Following the transaction, the director now owns 91,572 shares in the company, valued at approximately $1,224,317.64. The trade was a 14.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,476 shares of company stock valued at $3,435,636 over the last quarter. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Everi

Several institutional investors and hedge funds have recently modified their holdings of EVRI. Clearbridge Investments LLC raised its stake in Everi by 85.3% in the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock worth $23,400,000 after buying an additional 1,282,682 shares in the last quarter. Glazer Capital LLC bought a new position in shares of Everi in the 3rd quarter worth approximately $33,507,000. Alpine Associates Management Inc. purchased a new position in shares of Everi in the 3rd quarter valued at approximately $24,815,000. Geode Capital Management LLC boosted its position in shares of Everi by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,860,321 shares of the credit services provider’s stock valued at $24,450,000 after purchasing an additional 27,670 shares in the last quarter. Finally, Westchester Capital Management LLC purchased a new stake in Everi in the third quarter worth $16,662,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Everi in a report on Saturday. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Everi has a consensus rating of “Hold” and an average price target of $12.88.

Everi Trading Up 0.2 %

Shares of Everi stock traded up $0.03 during midday trading on Wednesday, reaching $13.51. 379,877 shares of the company’s stock traded hands, compared to its average volume of 1,291,901. The company has a market cap of $1.17 billion, a PE ratio of 90.07 and a beta of 2.07. The stock has a 50 day moving average of $13.42 and a 200-day moving average of $12.25. Everi has a 12 month low of $6.37 and a 12 month high of $13.53. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06.

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.