Everi Holdings Inc. (EVRI) Short Interest Up 103.5% in November

Everi Holdings Inc. (NYSE:EVRI) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 2,163,134 shares, a growth of 103.5% from the October 31st total of 1,063,062 shares. Currently, 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 844,053 shares, the days-to-cover ratio is currently 2.6 days.

In other news, Director Eileen F. Raney acquired 9,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average cost of $8.65 per share, with a total value of $77,850.00. Following the completion of the purchase, the director now owns 59,000 shares of the company’s stock, valued at approximately $510,350. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Juliet Lim sold 133,515 shares of Everi stock in a transaction on Friday, November 17th. The shares were sold at an average price of $8.33, for a total value of $1,112,179.95. Following the completion of the sale, the executive vice president now directly owns 43,370 shares of the company’s stock, valued at $361,272.10. The disclosure for this sale can be found here. Insiders sold 359,378 shares of company stock valued at $2,949,643 over the last ninety days. Insiders own 4.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. grew its stake in Everi by 210.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 285,100 shares of the credit services provider’s stock worth $2,163,000 after purchasing an additional 193,200 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Everi by 67.3% during the 3rd quarter. Wells Fargo & Company MN now owns 93,245 shares of the credit services provider’s stock worth $708,000 after acquiring an additional 37,518 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of Everi by 293.6% during the 3rd quarter. Citadel Advisors LLC now owns 348,564 shares of the credit services provider’s stock worth $2,646,000 after acquiring an additional 260,015 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Everi during the 3rd quarter worth about $331,000. Finally, Eagle Asset Management Inc. boosted its position in shares of Everi by 13.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 3,577,074 shares of the credit services provider’s stock worth $26,792,000 after acquiring an additional 417,289 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

EVRI has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on Everi from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub raised Everi from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research cut Everi from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $7.33.

Everi (NYSE EVRI) opened at $7.97 on Friday. Everi has a one year low of $2.09 and a one year high of $8.99. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of -9.13.

Everi (NYSE:EVRI) last released its earnings results on Monday, October 30th. The credit services provider reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.06. Everi had a negative return on equity of 16,159.62% and a negative net margin of 25.82%. The firm had revenue of $247.32 million during the quarter, compared to analysts’ expectations of $228.37 million. During the same period in the previous year, the firm posted ($0.12) EPS. Everi’s revenue for the quarter was up 11.3% on a year-over-year basis. equities analysts anticipate that Everi will post -0.5 earnings per share for the current fiscal year.

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About Everi

Everi Holdings Inc is a holding company. The Company operates through subsidiaries, including Everi Games Holding Inc (Everi Games Holding) and Everi Payments Inc (Everi Payments or Payments). The Company operates through two segments: Games and Payments. The Company provides video and mechanical reel gaming content and technology solutions, integrated gaming payments solutions, and compliance and efficiency software.

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