LAS VEGAS—Geoffrey P. Judge, a director at Everi Holdings Inc. (NYSE:EVRI), recently sold 4,000 shares of the company's common stock, generating a total of $54,000. The shares were sold at a price of $13.50 each in a single transaction on December 6, according to a filing with the Securities and Exchange Commission. The transaction occurred as the stock trades near its 52-week high, with InvestingPro data showing an impressive 77% price gain over the past six months.
On the same day, Judge exercised stock options to acquire 4,000 shares at a price of $7.74 per share, with the total transaction valued at $30,960. The options were part of a plan adopted on August 16, 2024, and were originally granted on April 22, 2015. Following these transactions, Judge holds 91,572 shares of Everi Holdings, which currently has a market capitalization of $1.16 billion and maintains a "GOOD" financial health rating according to InvestingPro's comprehensive analysis.
These moves were executed under a prearranged 10b5-1 trading plan, a common strategy for insiders to manage the sale of their shares. For deeper insights into insider trading patterns and 13 additional ProTips about EVRI, including detailed valuation metrics, visit InvestingPro.
In other recent news, Everi Holdings is undergoing significant transitions. The company's Chief Financial Officer, Mark F. Labay, is set to assume the role of Chief Integration Officer at Newco, in line with Everi's impending merger activities. The company is part of a definitive agreement with International Game Technology PLC (NYSE:IGT) and other parties, aiming to be acquired by a new holding company owned by funds managed by affiliates of Apollo Global Management (NYSE:APO), Inc.
Everi's earnings and revenue have been adjusted by B.Riley, with EBITDA estimates for 2024 and 2025 set at $325.4 million and $346.9 million, respectively, reflecting potential delays in product transitions within Everi's games business. The company's first-quarter results showed a decrease in its Games segment but an increase in its Fintech cash access services, with adjusted EBITDA falling to $80.3 million.
The company's stock rating was downgraded by Stifel from Buy to Hold following the announcement of its acquisition by Apollo Global Management. At the same time, Raymond (NS:RYMD) James adjusted Everi's stock rating from a 'Strong Buy' to a 'Market Perform' status. These are among the recent developments for Everi Holdings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.