Allianz Asset Management GmbH recently made headlines with a significant adjustment to its stake in Everi Holdings Inc., a move closely watched by market analysts and investors alike. The global asset manager reduced its holdings in the credit services provider by a notable 38.8% during the first quarter, as detailed in its latest filing with the Securities and Exchange Commission, a key document in financial analysis.
This strategic divestment saw Allianz offload 19,383 shares, leaving the firm with 30,578 shares of Everi Holdings. At the close of the most recent reporting period, the remaining EVRI stock holdings held by Allianz were valued at approximately $418,000, underscoring a calculated shift in their asset management portfolio.
The landscape of institutional investing in Everi Holdings has been dynamic, with several other major institutional investors and hedge funds actively adjusting their positions. LPL Financial LLC, for instance, bolstered its presence in Everi during the fourth quarter, increasing its holdings by 8.7% to a total of 262,918 shares, now valued at $3,552,000.
Further highlighting the varied stock market news, Vanguard Group Inc., a titan in the investment world, expanded its Everi holdings by 1.0% in the same period, bringing its total to an impressive 4,857,966 shares worth $65,631,000. JPMorgan Chase & Co. also demonstrated confidence, raising its stake by 5.1% to 471,636 shares, equating to $6,372,000.
Arrowstreet Capital Limited Partnership exhibited a particularly aggressive stance, dramatically increasing its holdings in Everi by 370.2% during the fourth quarter. This substantial acquisition propelled their ownership to 87,750 shares, valued at $1,186,000, signifying strong bullish sentiment from this institutional investing entity.
Similarly, Alliancebernstein L.P. engaged in significant buying activity, raising its Everi holdings by 8.6%. They now possess 1,052,787 shares, a stake worth $14,223,000. Collectively, institutional investors and hedge funds now command a significant 95.47% of Everi Holdings’ stock, reflecting strong belief in the company’s prospects despite individual portfolio adjustments.
From a financial perspective, Everi Holdings (EVRI) stock opened at $14.24, with its 50-day moving average price at $14.21 and two-hundred day moving average at $13.90. The company maintains a current ratio of 1.08 and a quick ratio of 1.00, indicative of its short-term liquidity. With a debt-to-equity ratio of 3.60, a market cap of $1.24 billion, and a PE ratio of 89.01, its metrics are closely scrutinized in market analysis.
Everi Holdings Inc. is a prominent player in the gaming industry, specializing in the development and supply of engaging game content, gaming machines, and comprehensive gaming systems and services. It serves both land-based and iGaming operators across the United States, Canada, and internationally, operating primarily through its Games and Financial Technology Solutions segments.
The company’s offerings span from classic mechanical reel games and video reel games to innovative national slot tournaments like TournEvent of Champions. Everi also provides essential gaming equipment, player terminals, content licenses, and ancillary equipment such as signage and lighting packages, solidifying its position in the competitive gaming and financial technology sectors and making its EVRI stock a point of interest for diverse investors.
