Sona Asset Management US LLC Has $10.87 Million Stake in Everi Holdings Inc. (NYSE:EVRI)

Sona Asset Management US LLC grew its stake in shares of Everi Holdings Inc. (NYSE:EVRI) by 73.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 804,322 shares of the credit services provider’s stock after purchasing an additional 341,693 shares during the period. Sona Asset Management US LLC’s holdings in Everi were worth $10,866,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Arizona State Retirement System raised its position in Everi by 3.2% in the fourth quarter. Arizona State Retirement System now owns 24,974 shares of the credit services provider’s stock worth $337,000 after purchasing an additional 765 shares in the last quarter. Vestcor Inc acquired a new stake in Everi in the 4th quarter valued at $28,000. MetLife Investment Management LLC grew its position in Everi by 5.4% in the fourth quarter. MetLife Investment Management LLC now owns 47,140 shares of the credit services provider’s stock valued at $637,000 after acquiring an additional 2,409 shares during the period. Franklin Resources Inc. raised its stake in Everi by 6.6% during the third quarter. Franklin Resources Inc. now owns 41,542 shares of the credit services provider’s stock worth $550,000 after acquiring an additional 2,564 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Everi by 6.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,100 shares of the credit services provider’s stock valued at $623,000 after acquiring an additional 2,696 shares during the period. Institutional investors own 95.47% of the company’s stock.

Insider Activity at Everi

In related news, Director Geoffrey P. Judge sold 7,332 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $13.73, for a total value of $100,668.36. Following the transaction, the director now directly owns 84,240 shares in the company, valued at $1,156,615.20. This represents a 8.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Todd A. Valli sold 30,000 shares of Everi stock in a transaction on Monday, April 21st. The stock was sold at an average price of $13.75, for a total transaction of $412,500.00. Following the sale, the chief accounting officer now directly owns 57,413 shares of the company’s stock, valued at $789,428.75. This represents a 34.32% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Everi from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.83.

Everi Price Performance

Everi stock opened at $14.08 on Friday. Everi Holdings Inc. has a 52 week low of $6.37 and a 52 week high of $14.10. The firm has a market cap of $1.22 billion, a P/E ratio of 93.87 and a beta of 1.31. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.97 and a current ratio of 1.06. The business’s fifty day moving average is $13.74 and its two-hundred day moving average is $13.61.

Everi (NYSE:EVRI) last issued its quarterly 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 during the quarter, compared to analyst estimates of $193.22 million. Equities research analysts forecast that Everi Holdings Inc. will post 0.25 earnings per share for the current fiscal year.

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.