Everi Holdings Inc. (NYSE:EVRI) Position Lowered by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC reduced its position in Everi Holdings Inc. (NYSE:EVRI) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,746,368 shares of the credit services provider’s stock after selling 18,285 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 2.02% of Everi worth $22,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glazer Capital LLC acquired a new stake in shares of Everi during the 3rd quarter valued at approximately $33,507,000. Alpine Associates Management Inc. bought a new position in Everi in the third quarter worth about $24,815,000. Clearbridge Investments LLC grew its holdings in shares of Everi by 85.3% during the second quarter. Clearbridge Investments LLC now owns 2,785,753 shares of the credit services provider’s stock valued at $23,400,000 after purchasing an additional 1,282,682 shares during the last quarter. Westchester Capital Management LLC acquired a new stake in shares of Everi during the 3rd quarter worth approximately $16,662,000. Finally, Burgundy Asset Management Ltd. lifted its holdings in shares of Everi by 1,230.8% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 683,938 shares of the credit services provider’s stock worth $5,745,000 after purchasing an additional 632,544 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Everi Price Performance

Shares of NYSE:EVRI opened at $13.47 on Monday. The stock’s 50 day moving average price is $13.30 and its 200 day moving average price is $11.30. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.06 and a quick ratio of 0.97. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 89.81 and a beta of 2.13. Everi Holdings Inc. has a 12 month low of $6.37 and a 12 month high of $13.48.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EVRI shares. StockNews.com initiated coverage on Everi in a research report on Tuesday, November 26th. They issued a “hold” rating on the stock. B. Riley boosted their target price on shares of Everi from $11.00 to $14.25 and gave the company a “neutral” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.88.

Insider Activity

In other news, Director Geoffrey P. Judge sold 16,000 shares of Everi stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $13.37, for a total value of $213,920.00. Following the transaction, the director now directly owns 91,572 shares of the company’s stock, valued at $1,224,317.64. This trade represents a 14.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark F. Labay sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $13.38, for a total transaction 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. This trade represents a 25.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,000 shares of company stock worth $1,865,420. Insiders own 6.40% of the company’s stock.

Everi Profile

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.