Victory Capital Management Inc. has recently adjusted its investment portfolio, significantly reducing its EVRI stock holdings in Everi Holdings Inc. This move, detailed in their latest SEC filings, reflects a notable shift in their strategy regarding the credit services and gaming technology provider. The decision by a prominent institutional investor like Victory Capital often prompts closer examination from market observers.
According to their most recent filing with the Securities and Exchange Commission, Victory Capital Management Inc. divested 46,419 shares during the first quarter, resulting in a 51.0% decrease in their stake. Post-reduction, the firm now holds 44,620 shares of Everi Holdings, valued at approximately $610,000 as per the filing. This substantial trimming of institutional holdings contrasts with other recent activities in the market.
While Victory Capital reduced its position, other major players have been active in their Everi Holdings Inc. investments. Raymond James Financial Inc. notably established a new position in the fourth quarter, valuing their entry at approximately $4.36 million. This indicates a divergent view among institutional investors on the future prospects of EVRI.
Deutsche Bank AG also expanded its stake, growing its holdings by 11.6% in the fourth quarter to own 221,045 shares, worth $2.98 million. Similarly, GAMMA Investing LLC dramatically increased its holdings by 1,267.0% in the first quarter, acquiring an additional 16,370 shares to reach 17,662 shares. These varied movements highlight the dynamic nature of market analysis within the financial sector.
Further demonstrating this trend, Schonfeld Strategic Advisors LLC lifted its position in Everi by 179.9% in the fourth quarter, accumulating 468,912 shares valued at $6.33 million. AQR Arbitrage LLC also boosted its holdings in Everi by 27.5% in the same period, now possessing 1,880,202 shares worth an impressive $25.40 million. Such significant acquisitions underscore robust interest from certain large-scale investors.
Collectively, institutional investors and hedge funds maintain a substantial presence in Everi Holdings, owning a remarkable 95.47% of the company’s stock. This high percentage of institutional holdings signifies confidence from a broad range of professional money managers, despite individual firms like Victory Capital making adjustments.
From a financial perspective, Everi Holdings Inc. shares opened at $14.24 recently, with the company boasting a market capitalization of $1.24 billion. Its current price-to-earnings ratio stands at 89.01, with a beta of 1.22. The company’s financial health indicators include a quick ratio of 1.00, a current ratio of 1.08, and a debt-to-equity ratio of 3.60, providing a comprehensive view for potential investors conducting their own market analysis.
Everi Holdings Inc. operates as a key developer and supplier of engaging game content, gaming machines, and comprehensive gaming systems and services. Serving both land-based and iGaming operators across the United States, Canada, and internationally, the company segments its operations into Games and Financial Technology Solutions. Its offerings range from classic mechanical reel games to advanced video reel games and national slot tournaments, alongside the sale of gaming equipment and the licensing of game content, solidifying its position within the entertainment and financial technology sectors.
