BidaskClub downgraded shares of Everi Holdings Inc. (NYSE:EVRI) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

EVRI has been the topic of a number of other reports. Zacks Investment Research cut shares of Everi Holdings from a buy rating to a hold rating in a research report on Monday, May 1st. Stifel Nicolaus reissued a buy rating and set a $9.00 target price (up from $7.50) on shares of Everi Holdings in a research report on Monday, June 12th. Finally, ValuEngine raised shares of Everi Holdings from a sell rating to a hold rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Everi Holdings currently has a consensus rating of Buy and an average target price of $6.69.

Shares of Everi Holdings (NYSE:EVRI) traded down 3.35% during midday trading on Tuesday, hitting $7.50. 702,557 shares of the stock were exchanged. Everi Holdings has a 12-month low of $1.21 and a 12-month high of $8.24. The firm has a 50 day moving average of $7.32 and a 200 day moving average of $5.34. The firm’s market cap is $495.73 million.

Everi Holdings (NYSE:EVRI) last posted its earnings results on Tuesday, May 9th. The credit services provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Everi Holdings had a negative net margin of 26.88% and a negative return on equity of 16,159.62%. The business had revenue of $237.50 million for the quarter, compared to analysts’ expectations of $235.41 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Equities analysts forecast that Everi Holdings will post ($0.30) EPS for the current fiscal year.

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In related news, Director Eileen F. Raney purchased 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average cost of $6.73 per share, with a total value of $94,220.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $336,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of EVRI. Bank of America Corp DE boosted its stake in Everi Holdings by 7,800.0% in the first quarter. Bank of America Corp DE now owns 23,463 shares of the credit services provider’s stock valued at $112,000 after buying an additional 23,166 shares in the last quarter. Two Sigma Investments LP bought a new stake in Everi Holdings during the fourth quarter valued at about $130,000. JPMorgan Chase & Co. bought a new stake in Everi Holdings during the first quarter valued at about $160,000. Hillsdale Investment Management Inc. bought a new stake in Everi Holdings during the first quarter valued at about $169,000. Finally, Parametric Portfolio Associates LLC bought a new stake in Everi Holdings during the first quarter valued at about $200,000. 71.91% of the stock is currently owned by hedge funds and other institutional investors.

About Everi Holdings

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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