A significant shift in the institutional landscape has emerged for Everi Holdings Inc., signaling notable adjustments in major asset management strategies. Allianz Asset Management GmbH, a prominent global asset manager, has notably reduced its stake in the credit services provider, as detailed in its recent Form 13F filing with the Securities & Exchange Commission. This move highlights ongoing portfolio rebalancing within the competitive stock market environment.
Specifically, Allianz Asset Management GmbH divested a substantial 38.8% of its Everi Holdings shares during the first quarter. This reduction involved the sale of 19,383 shares, leaving the firm with 30,578 shares of EVRI stock. At the close of the most recent quarter, Allianz Asset Management GmbH’s remaining holdings in Everi were valued at approximately $418,000, underscoring a recalibration of their investment in the company.
Despite Allianz’s decreased position, the broader institutional investor activity surrounding Everi Holdings presents a complex picture. Several other institutional investors initiated new positions in the company during the same period. For instance, Tabor Asset Management LP acquired a significant new stake worth about $3,042,000, while Teacher Retirement System of Texas also entered the scene with a new stake valued at approximately $317,000. CWA Asset Management Group LLC further expanded the base of new institutional investors with a new acquisition valued around $1,018,000.
Continuing this trend of dynamic institutional investor movements, FNY Investment Advisers LLC dramatically increased its holdings in Everi, boosting its stake by an impressive 769.2% in the first quarter. This substantial acquisition saw FNY Investment Advisers LLC add 100,000 shares, bringing their total ownership to 113,000 shares, now valued at $1,544,000. Similarly, SummerHaven Investment Management LLC modestly lifted its Everi holdings by 1.2%, acquiring an additional 1,054 shares to reach a total of 85,572 shares, valued at $1,170,000.
Collectively, institutional investors and hedge funds maintain a dominant presence in Everi Holdings, holding a remarkable 95.47% of the company’s total stock. This high percentage signifies strong institutional confidence and a deep engagement with the company’s financial trajectory, despite individual firms adjusting their exposure. Such concentrated institutional ownership often influences stock market stability and liquidity for EVRI stock.
From a market performance perspective, Everi Holdings Inc. shares commenced trading at $14.24 on a recent Friday. The company’s stock has experienced fluctuations, recording a twelve-month low of $8.68 and a twelve-month high of $14.25, indicating a degree of volatility within its trading range. These price movements are closely watched in the realm of financial news and analysis.
Analyzing its financial health, Everi Holdings Inc. exhibits several key ratios. The company maintains a current ratio of 1.08 and a quick ratio of 1.00, suggesting reasonable short-term liquidity. However, its debt-to-equity ratio stands at 3.60, indicating a higher reliance on debt financing. With a market capitalization of $1.24 billion and a price-to-earnings ratio of 89.01, the company presents a specific valuation profile within the credit services sector. A beta of 1.22 suggests its stock price tends to be more volatile than the overall market.
The technical indicators also provide insight into the stock’s recent behavior. Everi Holdings Inc. has a 50-day moving average of $14.21 and a two-hundred day moving average of $13.90. These figures are often used by analysts and institutional investors to identify trends and potential support or resistance levels in the stock market.
Everi Holdings Inc. operates as a key developer and supplier of engaging game content, gaming machines, and comprehensive gaming systems and services. Its reach extends to land-based and iGaming operators across the United States, Canada, and internationally. Structured into Games and Financial Technology Solutions segments, the company offers a diverse portfolio including classic mechanical reel games, video reel games, and specialized offerings like TournEvent of Champions, alongside selling gaming equipment, player terminals, licenses, and ancillary equipment.
