Jefferies Group Initiates Coverage on Everi (EVRI)

Jefferies Group assumed coverage on shares of Everi (NYSE:EVRI) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $11.00 target price on the credit services provider’s stock.

A number of other analysts also recently weighed in on EVRI. Stifel Nicolaus reiterated a buy rating and set a $11.00 target price on shares of Everi in a research report on Wednesday, November 1st. BidaskClub upgraded Everi from a hold rating to a buy rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $8.25.

Shares of Everi (NYSE:EVRI) opened at $7.77 on Tuesday. The firm has a market capitalization of $478.31, a price-to-earnings ratio of -2.11 and a beta of 1.04. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of -9.13. Everi has a 1 year low of $3.11 and a 1 year high of $8.99.

In related news, insider Michael D. Rumbolz sold 33,366 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $8.00, for a total transaction of $266,928.00. Following the completion of the sale, the insider now directly owns 110,302 shares in the company, valued at approximately $882,416. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director E Miles Kilburn sold 150,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $8.00, for a total value of $1,200,000.00. Following the sale, the director now owns 182,186 shares of the company’s stock, valued at $1,457,488. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,500 shares of company stock valued at $1,540,000. Corporate insiders own 4.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in EVRI. Wells Fargo & Company MN lifted its position in shares of Everi by 434.3% during the 2nd quarter. Wells Fargo & Company MN now owns 55,727 shares of the credit services provider’s stock worth $406,000 after buying an additional 45,297 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Everi during the 2nd quarter worth $108,000. Teachers Advisors LLC bought a new stake in shares of Everi during the 2nd quarter worth $827,000. TIAA CREF Investment Management LLC bought a new stake in shares of Everi during the 2nd quarter worth $1,249,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Everi during the 2nd quarter worth $816,000. Institutional investors and hedge funds own 87.35% of the company’s stock.

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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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