Telsey Advisory Group Released ” Outperform” Rating on Everi Holdings Inc (EVRI)

Everi Holdings Inc (EVRI) was Upgraded by Telsey Advisory Group to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 6 from a previous price target of $2.50 . Earlier the firm had a rating of “Market Perform ” on the company shares. Telsey Advisory Group advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Company shares were Initiated by Telsey Advisory Group on Mar 15, 2017 to “Outperform”, Firm has raised the Price Target to $ 6 from a previous price target of $2.50 .

Several company insiders have filed Insider transactions , on Aug 17, 2016, Eileen F Raney (director) purchased 15,000 shares at $2.15 per share price. According to the SEC, on May 24, 2016, Michael D Rumbolz (CEO) purchased 25,000 shares at $1.28 per share price. On Nov 12, 2015, Geoffrey P Judge (director) purchased 2,500 shares at $3.96 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, Everi Holdings Inc reported $-3.29 EPS for the quarter, missing the analyst consensus estimate by $ -3.44 based on the information available during the earnings call on Mar 14, 2017. Analyst had a consensus of $0.15. The company had revenue of $217.50 million for the quarter, compared to analysts expectations of $211.68 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Everi Holdings Inc opened for trading at $3.51 and hit $4.27 on the upside on Wednesday, eventually ending the session at $3.84, with a gain of 18.52% or 0.6 points. The heightened volatility saw the trading volume jump to 37,04,577 shares. Company has a market cap of $254 M.

Everi Holdings Inc. formerly Global Cash Access Holdings Inc. is a holding company. The Company operates through subsidiaries including Global Cash Access Inc. which provides integrated gaming payments solutions video and mechanical reel gaming content and technology solutions as well as compliance and efficiency software and Multimedia Games Holding Company Inc. which designs manufactures and supplies gaming machines and systems to commercial and Native American casino operators as well as select lottery operators and commercial bingo facility operators. The Company’s segments include Games which provides solutions directly to gaming establishments to offer its patrons gaming entertainment related experiences including leased gaming equipment; sales and maintenance related services of gaming equipment and gaming systems and Payments which provides solutions directly to gaming establishments to offer its patrons cash access related services and products.

Everi Holdings Inc

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