Everi Holdings Inc. (EVRI) Volatility Spurs A Quest For Clarity


Capital Research & Management Co.. recently announced the acquisition of new stake in Everi Holdings Inc. (NYSE:EVRI). The institutional investor has increased its shareholding in the Consumer Cyclical company by 8.30% to 5.67 million shares with purchase of 0.43 million shares. This fresh investment now brings its stake to 6.65% valued currently at $32.23 million. In addition, BlackRock Fund Advisors raised its holdings by 0.2 million to 5.3 million shares. And Carillon Tower Advisers, Inc. has lifted its position by 10.21% or 0.48 million shares – to 5.2 million shares.

With over 2.94 million Everi Holdings Inc. (EVRI) shares trading Friday and a closing price of $8.28 on the day, the dollar volume was approximately $24.35 million. The shares have shown a positive weekly performance of 11.89% and its price on 08/28/20 gained nearly 2.60%. Currently, there are 85.12M common shares owned by the public and among those 84.33M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for EVRI have a consensus price objective of $11.43. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Everi Holdings Inc. stock is 1.60 for the next 12 months. The average price target is 27.56% above its last price level and an upside to the estimated low will see the stock gain 17.2% over that period. But an upside of 51.29% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.

Insiders at the company have transacted a total of 80 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 620,584 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 219,251 shares.

The top 3 mutual fund holders in Everi Holdings Inc. are Carillon Eagle Small Cap Growth F, American Funds Small Cap World Fu, and Vanguard Total Stock Market Index. Carillon Eagle Small Cap Growth F owns 5.2 million shares of the company’s stock, all valued at over $29.53 million. The company bought an additional 0.48 million shares recently to bring their total holdings to about 6.09% of the shares outstanding. American Funds Small Cap World Fu bought 0.34 million shares to see its total holdings expand to 4.55 million shares valued at over $25.87 million and representing 5.34% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.78% of the shares outstanding.

Shares of Everi Holdings Inc. (NYSE: EVRI) opened at $8.17, up $0.1 from a prior closing price of $8.07. However, the script later closed the day at $8.28, up 2.60%. The company’s stock has a 5-day price change of 11.89% and 29.98% over the past three months. EVRI shares are trading -38.35% year to date (YTD), with the 12-month market performance down to -9.61% lower. It has a 12-month low price of $1.55 and touched a high of $14.88 over the same period. Currently, 2.94 million shares have been traded, compared to an average intraday trading volume of 3.86 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.29%, 33.19%, and 0.04% respectively.

Institutional ownership of Everi Holdings Inc. (NYSE: EVRI) shares accounts for 84.10% of the company’s 85.12M shares outstanding. Mutual fund holders own 52.36%, while other institutional holders and individual stakeholders account for 9.22% and 38.92% respectively.

It has a market capitalization of $689.64M and a beta (3y monthly) value of 2.99. The earnings-per-share (ttm) stands at -$0.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.92% over the week and 6.60% over the month.

Analysts forecast that Everi Holdings Inc. (EVRI) will achieve an EPS of -$0.24 for the current quarter, -$0.11 for the next quarter and $0.01 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.39 while analysts give the company a high EPS estimate of -$0.11. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 36.70%, and 100.80% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to 2.80% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Everi Holdings Inc. (EVRI) as a “Strong Buy” at a consensus score of 1.60. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the EVRI, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on July 10, 2020, with the firm’s price target at $17. Macquarie coverage for the Everi Holdings Inc. (EVRI) stock in a research note released on September 26, 2019 offered a Outperform rating with a price target of $12. SunTrust was of a view on February 11, 2019 that the stock is Buy, while Raymond James gave the stock Strong Buy rating on November 30, 2018, issuing a price target of $11. Telsey Advisory Group on their part issued Outperform rating on March 14, 2018.


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