In a recent transaction, Geoffrey P. Judge, Director at Everi Holdings Inc. (NYSE:EVRI), sold 30,000 shares of the company's stock, netting a total of $245,100. The sale was conducted at a weighted average price of $8.17 per share, with individual transactions ranging from $8.01 to $8.35, as indicated in a footnote to the SEC filing.
The same filing also revealed that Judge acquired 30,000 shares of Everi Holdings' common stock at a price of $6.59 per share, amounting to a total transaction value of $197,700. These transactions were executed under a 10b5-1 trading plan, which was previously adopted on March 10, 2023. This plan was related to options originally granted on May 2, 2014, and set to expire on May 2, 2024.
Following the sale, Judge's ownership in Everi Holdings decreased to 91,572 shares of common stock. The Form 4 filing, which disclosed these transactions, also noted that the shares sold were part of a prearranged trading plan.
Everi Holdings Inc., headquartered in Las Vegas, Nevada, operates within the miscellaneous amusement and recreation services industry. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol EVRI.
Investors and the market at large often monitor the trading activity of company insiders, such as directors and executives, for insights into their perspective on the company's future performance. However, it is important to note that these transactions do not necessarily indicate a lack of confidence in the company, as they may be part of broader personal financial management strategies.
The SEC filing further mentioned derivative transactions involving restricted stock units (RSUs), which represent a contingent right to receive shares of common stock. These RSUs will vest on the first anniversary following the grant date and are subject to certain conditions outlined in the company's equity incentive plans.
For further details on the transactions, including the full range of prices for the sales, interested parties can refer to the SEC filing, which includes comprehensive information as per regulatory requirements.
InvestingPro Insights
Everi Holdings Inc. (NYSE:EVRI) has recently been the subject of insider trading activity, with Director Geoffrey P. Judge selling and acquiring shares under a prearranged trading plan. This activity coincides with a period where Everi Holdings has displayed some notable financial metrics and market performance.
An InvestingPro Tip indicates that management at Everi Holdings has been aggressively buying back shares, a move which can often signal confidence in the company's future prospects and perceived undervaluation. Additionally, Everi's high shareholder yield is another positive sign, suggesting that investors could benefit from both capital gains and potential buybacks or other distributions.
From a financial perspective, Everi Holdings has a market capitalization of $684.1 million and is trading at a low earnings multiple, with a P/E ratio of 7.28 based on last twelve months as of Q4 2023. This could be an indicator of the stock being undervalued compared to its earnings potential. The company has also demonstrated impressive gross profit margins of 80.04% over the same period, highlighting its ability to maintain profitability.
However, it's important to note that the stock has experienced significant volatility and has been trading near its 52-week low, with a price total return of -46.07% over the past year. This could reflect market sentiment or external factors affecting the stock's performance.
For investors looking for a deeper dive into Everi Holdings Inc., there are additional InvestingPro Tips available. These include insights on valuation, stock price movements, and profitability predictions by analysts. To access these tips and enhance your investment strategy, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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