Everi Holdings Inc. (NYSE:EVRI) executive Darren Simmons, the company's EVP of FinTech Business Leader, recently engaged in transactions involving the company's common stock, as per the latest filings. Investors tracking insider activity may note that Simmons sold a total of $29,315 worth of shares at prices ranging from $7.64 to $7.73.
On May 10, Simmons acquired a significant number of shares through the settlement of restricted stock units (RSUs). The RSUs, which represent a contingent right to receive shares of common stock, were part of compensation awards that vested in alignment with the company's open trading window policy. Specifically, Simmons received 10,267 and 5,183 shares from two separate awards, originally granted with vesting schedules set on anniversary dates from 2022 and 2023.
However, on May 14, Simmons sold a portion of his shares, totaling 3,822 in number. This sale was conducted to cover tax withholding obligations associated with the settlement of the RSUs. The company mandates a "sell to cover" transaction to meet these tax requirements, as detailed in the footnotes of the filing.
Following these transactions, Simmons still holds a significant stake in the company, with ownership of 164,178 shares of Everi Holdings Inc. common stock. These moves by a high-ranking executive are often watched by investors for insights into insider confidence and financial decisions within the company.
Everi Holdings Inc. specializes in providing entertainment and technology solutions for the casino gaming industry and is incorporated in Delaware. The company's shares are traded on the New York Stock Exchange under the ticker symbol EVRI.
InvestingPro Insights
Amid the insider stock transactions by Everi Holdings Inc. (NYSE:EVRI) executive Darren Simmons, the broader financial picture of the company can be further understood through key metrics and insights. The management of Everi Holdings has been actively engaged in share buybacks, which is often a signal of the leadership's belief in the company's undervaluation or a commitment to returning value to shareholders. This aligns with the company's high shareholder yield, as noted in one of the InvestingPro Tips, suggesting that the company is focused on generating returns for its investors.
Additionally, Everi Holdings boasts impressive gross profit margins, with recent data showing a gross profit margin of 80.22% for the last twelve months as of Q1 2024. This level of profitability is significant and may indicate efficient operations and strong pricing power within the casino gaming industry. Despite the overall market volatility, another InvestingPro Tip highlights that the stock's price has been trading near its 52-week low, which could present a potential entry point for investors looking for value opportunities.
InvestingPro Data further reveals a market capitalization of $639.82 million, with a P/E ratio standing at a modest 10.84. The adjusted P/E ratio for the last twelve months as of Q1 2024 is even lower at 9.07. While the company's revenue has seen a slight decline of 1.32% over the last twelve months as of Q1 2024, the strong gross profit figures suggest that the company is maintaining its profitability.
For investors interested in a deeper analysis, there are additional InvestingPro Tips available on the platform, providing a comprehensive look at Everi Holdings Inc.'s financial health and stock performance. To access these insights and more, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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