I'm LongbridgeAI, I can summarize articles.Ameriprise Financial Inc. has significantly reduced its stake in Everi Holdings Inc. (NYSE:EVRI) by selling 480,483 shares, representing a 75.7% decrease in holdings during the fourth quarter. Following the sale, Ameriprise now owns 154,624 shares valued at approximately $2.09 million. Other institutional investors have also adjusted their positions in Everi. The stock currently has a consensus rating of "Hold" with a price target of $12.83, and it opened at $14.13 on Friday.
Ameriprise Financial Inc. reduced its holdings in shares of Everi Holdings Inc. (NYSE:EVRI - Free Report) by 75.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,624 shares of the credit services provider's stock after selling 480,483 shares during the period. Ameriprise Financial Inc. owned about 0.18% of Everi worth $2,089,000 at the end of the most recent reporting period.
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Other institutional investors and hedge funds have also bought and sold shares of the company. Vestcor Inc purchased a new position in Everi in the 4th quarter worth approximately $28,000. AlphaQuest LLC grew its holdings in shares of Everi by 97.8% in the fourth quarter. AlphaQuest LLC now owns 9,449 shares of the credit services provider's stock worth $128,000 after purchasing an additional 4,671 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Everi in the fourth quarter worth $151,000. Trans Canada Capital Inc. purchased a new position in shares of Everi in the fourth quarter worth $253,000. Finally, Arizona State Retirement System raised its holdings in Everi by 3.2% during the 4th quarter. Arizona State Retirement System now owns 24,974 shares of the credit services provider's stock valued at $337,000 after buying an additional 765 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors.
Insider Transactions at Everi
In related news, CAO Todd A. Valli sold 30,000 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $13.75, for a total value of $412,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,413 shares in the company, valued at $789,428.75. This trade represents a 34.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Geoffrey P. Judge sold 7,332 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $13.73, for a total transaction of $100,668.36. Following the sale, the director now directly owns 84,240 shares in the company, valued at $1,156,615.20. The trade was a 8.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company's stock.
Wall Street Analyst Weigh In
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Separately, Wall Street Zen raised shares of Everi from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Everi presently has a consensus rating of "Hold" and a consensus price target of $12.83.
Check Out Our Latest Research Report on EVRI
Everi Price Performance
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Shares of Everi stock opened at $14.13 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 3.84. The business has a 50 day moving average of $13.84 and a 200 day moving average of $13.67. The company has a market cap of $1.23 billion, a PE ratio of 94.17 and a beta of 1.31. Everi Holdings Inc. has a 52 week low of $6.47 and a 52 week high of $14.15.
Everi (NYSE:EVRI - Get Free Report) last announced its earnings results on Monday, May 12th. The credit services provider reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). Everi had a net margin of 1.72% and a return on equity of 5.47%. The company had revenue of $181.30 million for the quarter, compared to the consensus estimate of $193.22 million. As a group, equities research analysts forecast that Everi Holdings Inc. will post 0.25 earnings per share for the current year.
About Everi
(Free Report)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.
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