Everi Holdings director Geoffrey Judge sold $213,920 worth of stock By Investing.com
Geoffrey P. Judge, director at Everi Holdings Inc. (NYSE: ), recently made a series of stock transactions as reported in a recent SEC filing. On November 15, Judge sold 16,000 shares of Everi Holdings common stock, netting $213,920. Shares traded at a weighted average price of $13.37, with prices per transaction ranging from $13.36 to $13.42.
In addition to the sale, Judge also exercised stock options to acquire 16,000 shares at $7.74 per share, for a total of $123,840. This transaction was made under a previously established 10b5-1 trading plan adopted on August 16, 2024, with options originally granted in April 2015. Following this transaction, Judge owns 91,572 shares of Everi Holdings common stock.
In other recent news, Everi Holdings has been the focus of several important developments. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2024 and 2025 were revised by B.Riley, with forecasts now set at $325.4 million in 2024 and $346.9 million. in the year 2025, a decline from previous forecasts. This adjustment reflects a view of caution due to possible delays in product changes within Everi’s games business, particularly due to the company’s upcoming merger with International Game Technology’s (NYSE: ) games division.
Everi’s stock rating was also downgraded by Stifel from Buy to Hold following the announcement of its acquisition by Apollo Global Management (NYSE: ) for $14.25 per share. This acquisition is expected to provide timely return to the majority shareholders. At the same time, Everi announced plans to merge with the Global Gaming and Play Digital businesses of IGT, a move aimed at improving product offerings and expanding market presence.
Raymond (NS:) James also adjusted Everi’s stock rating, changing it from a ‘Strong Buy’ to a ‘Market Perform’ rating. Despite a decline in its Games segment and a drop in adjusted EBITDA to $80.3 million from $92.5 million in the same quarter last year, the company expects revenue growth and a return to Fintech revenue growth in the second quarter of 2024. Information about the company Everi Holdings, Inc.
InvestingPro Insights
Recent activities performed by the director of Everi Holdings Inc. (NYSE:EVRI) Geoffrey P. Judge is accompanied by several key insights from InvestingPro. Shares of the company are currently trading near their 52-week high, and the price has risen 77.79% in the past six months. This positive momentum is reflected in Judge’s decision to exercise options and sell shares, which may benefit from strong stock performance.
InvestingPro data shows that Everi Holdings has a market capitalization of $1.15 billion and trades at a P/E ratio of 50.11 (adjusted for the last twelve months as of Q3 2024). These relatively high earnings suggest that investors have high expectations for future growth, which may have influenced Jaji’s trading decisions.
Two worthy InvestingPro tips for Everi Holdings are its impressive gross profit margins and strong free cash flow yield. The company boasts a gross margin of 80.04% over the past twelve months, indicating good cost management and potential pricing power in its market segment.
These details provide context for Judge’s activities and the company’s financial situation. InvestingPro offers 10 additional tips for Everi Holdings, providing investors with a comprehensive view of the company’s prospects and potential risks.
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