Pinnacle Associates Ltd. reduced its holdings in Everi Holdings Inc (NYSE:EVRI) by 31.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 33,250 shares of the credit services provider’s stock after selling 15,000 shares during the period. Pinnacle Associates Ltd.’s holdings in Everi were worth $251,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Everi by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 215,141 shares of the credit services provider’s stock worth $1,633,000 after buying an additional 6,237 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Everi by 22.4% in the 3rd quarter. New York State Common Retirement Fund now owns 66,200 shares of the credit services provider’s stock worth $502,000 after buying an additional 12,100 shares during the last quarter. Alliancebernstein L.P. bought a new position in shares of Everi in the 2nd quarter worth about $108,000. LMR Partners LLP bought a new stake in Everi in the 3rd quarter valued at about $162,000. Finally, Teacher Retirement System of Texas bought a new stake in Everi in the 4th quarter valued at about $177,000. Institutional investors own 87.35% of the company’s stock.
Several analysts recently weighed in on EVRI shares. Jefferies Group started coverage on shares of Everi in a research report on Tuesday, February 20th. They issued a “buy” rating and a $11.00 price objective on the stock. BidaskClub upgraded shares of Everi from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $11.00 price objective on shares of Everi in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Everi has an average rating of “Buy” and a consensus price target of $8.25.
In other Everi news, Director E Miles Kilburn sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $8.00, for a total transaction of $1,200,000.00. Following the transaction, the director now owns 182,186 shares of the company’s stock, valued at approximately $1,457,488. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael D. Rumbolz sold 9,134 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $8.00, for a total transaction of $73,072.00. Following the transaction, the insider now directly owns 113,977 shares in the company, valued at approximately $911,816. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,500 shares of company stock worth $1,540,000. 4.50% of the stock is currently owned by insiders.
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Everi Company Profile
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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