Everi Holdings Inc. (NYSE:EVRI), a provider of gaming and financial equipment and services, has reported recent stock transactions by EVP and Games Business Leader Dean A. Ehrlich. According to a recent filing, Ehrlich sold shares totaling over $100,000.
The transactions occurred on two consecutive days, with Ehrlich selling 2,614 shares on May 20 at a price of $7.32 per share, and an additional 11,144 shares on May 21 at a price of $7.37 per share. The total value of the shares sold was $101,265. These sales were part of a "sell to cover" transaction to satisfy tax withholding obligations associated with the settlement of performance stock units and restricted stock units, as per the company's mandatory policy.
Ehrlich's sales are part of regular stock transactions that executives and insiders of public companies often undertake. It is important for investors to monitor insider transactions as they can provide insights into an executive's view of the company's current valuation and future prospects.
Everi Holdings Inc., headquartered in Las Vegas, Nevada, operates in the miscellaneous amusement and recreation services industry and is incorporated in Delaware. The company's common stock is traded under the ticker symbol EVRI on the New York Stock Exchange.
Investors and market watchers often keep an eye on insider transactions as they represent a unique window into the actions of those who are arguably most familiar with the company's operations and outlook.
InvestingPro Insights
Amidst executive transactions at Everi Holdings Inc. (NYSE:EVRI), investors may find the latest metrics and insights from InvestingPro particularly illuminating. The company's management has been actively repurchasing shares, signaling confidence in the intrinsic value of the stock. This aligns with the InvestingPro Tip highlighting the company's aggressive share buyback strategy. Additionally, Everi boasts an impressive gross profit margin, which, as of the last twelve months ending in Q1 2024, stands at a robust 80.22%. This high margin is indicative of the company's strong pricing power and cost management.
From a financial standpoint, Everi Holdings Inc. has a current market capitalization of $623 million USD, with a price-to-earnings (P/E) ratio of 10.44. When adjusted for the last twelve months as of Q1 2024, the P/E ratio becomes even more attractive at 8.87. However, the stock has experienced notable volatility and has been trading near its 52-week low, which may present a potential opportunity for value investors as suggested by another InvestingPro Tip that points to the stock being in oversold territory.
For investors seeking comprehensive analysis and additional insights, InvestingPro provides a total of 15 InvestingPro Tips for Everi Holdings Inc., which can be accessed at https://www.investing.com/pro/EVRI. Utilize the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain a deeper understanding of EVRI's investment potential.
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