Everi (NYSE:EVRI) Rating Downgraded to Maintain at Zacks Investment Research

Zacks Investment Research downgraded shares of Everi (NYSE: EVRIGet a rating) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “Everi Holdings Inc. is a holding company that operates through subsidiaries, Global Cash Access, Inc. and Multimedia Games Holding Company, Inc. The Company’s segments include Gaming and Payments. Global Cash Access, Inc. provides integrated game payment solutions, video and mechanical game content and technology solutions, and software and compliance software. Multimedia Games Holding Company, Inc., designs, manufactures and supplies gaming machines and systems. Everi Holdings Inc., formerly known as Global Cash Access Holdings, Inc., is headquartered in Las Vegas, USA. “

Other equity research analysts have also published research reports on the company. TheStreet moved Everi from AC rating to AB rating in a Friday, April 1 report. StockNews.com raised Everi from a buy rating to a strong buy rating in a report on Friday, May 6. Finally, Roth Capital began covering Everi in a report on Tuesday, April 5. They issued a buy rating for the company. One research analyst gave the stock a hold rating, four gave the stock a buy rating and two gave the stock a strong buy rating. Based on data from MarketBeat.com, the company currently has an average Buy rating and consensus price target of $29.40.

Shares of Everi Stock traded at $0.83 during Friday trading hours, hitting $16.89. 884,229 shares of the company were traded, compared to its average volume of 964,723. The company has a fifty-day simple moving average of $19.57 and a 200-day simple moving average of $20.92. Everi has a 12-month low of $15.05 and a 12-month high of $26.61. The stock has a market capitalization of $1.55 billion, a price-earnings ratio of 10.43 and a beta of 2.61. The company has a debt ratio of 4.60, a current ratio of 1.27 and a quick ratio of 1.11.

Everi (NYSE: EVRIGet a rating) last reported quarterly earnings data on Tuesday, May 10. The credit service provider reported earnings per share of $0.31 for the quarter, beating the consensus estimate of $0.28 by $0.03. Everi had a return on equity of 98.81% and a net margin of 23.52%. The company posted revenue of $175.60 million in the quarter, compared to analyst estimates of $169.38 million. During the same quarter last year, the company posted EPS of $0.21. The company’s revenue for the quarter increased 26.2% year over year. On average, analysts expect Everi to post 1.33 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently changed their stakes in the company. Patriot Financial Group Insurance Agency LLC purchased a new position from Everi in Q4 worth approximately $25,000. Counterpoint Mutual Funds LLC purchased a new equity stake in Everi during Q4, valued at approximately $28,000. FMR LLC purchased a new equity stake in Everi during Q1 worth approximately $29,000. Manchester Capital Management LLC purchased a new stake in Everi stock during Q3, valued at approximately $34,000. Finally, Dark Forest Capital Management LP purchased a new equity stake in Everi during Q3 valued at approximately $47,000. Institutional investors and hedge funds hold 88.40% of the company’s shares.

About Everi (Get a rating)

Everi Holdings Inc provides entertainment and technology solutions for the casino and digital gaming industries in the United States, Canada, United Kingdom, Europe, the Caribbean, Central America and Asia. It operates in two segments, Gaming and FinTech. The Company offers local and extended progressive game products, such as classic mechanical reel games and video reel games, as well as TournEvent, a slot tournament terminal and system machine; and sells player terminals, licenses, game content and related equipment.

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