Everi Holdings Inc. (NYSE:EVRI) has reported a recent transaction involving the company's EVP and CFO, Mark F. Labay, who sold shares in the company. The transactions, which occurred on May 14, 2024, resulted in the sale of a total of 5,120 shares of common stock, with prices ranging between $7.65 and $7.73 per share. The total value of the shares sold amounted to over $39,332.
The sale of shares by Labay was related to the satisfaction of tax withholding obligations connected with the settlement of restricted stock units (RSUs). According to the footnotes in the SEC filing, the shares sold were part of a "sell to cover" transaction mandated by Everi Holdings Inc.'s policy to satisfy tax withholding obligations through such sales.
In addition to the sales, the filing also reported the acquisition of shares by Labay through the vesting of RSUs. The RSUs were part of an original award that will vest in equal installments on the anniversary dates following the grant dates. The grant dates mentioned in the footnotes were May 2, 2023, and May 3, 2022, for different sets of RSUs.
It is important to note that the reported transactions do not necessarily indicate a change in the executive's view of the company's prospects but are a part of the executive's compensation structure and tax obligations management.
Everi Holdings Inc., headquartered in Las Vegas, Nevada, operates within the miscellaneous amusement and recreation services industry and is incorporated in Delaware. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol EVRI.
InvestingPro Insights
As Everi Holdings Inc. (NYSE:EVRI) navigates through the financial market, it's essential for investors to consider the company's performance and management strategies. The recent share sale by the company's EVP and CFO, Mark F. Labay, coincides with a period where Everi Holdings demonstrates several notable financial metrics and management actions as per InvestingPro data.
For instance, Everi Holdings' market capitalization stands at $639.82 million, with a P/E ratio of 10.84, which adjusts to 9.07 when considering the last twelve months as of Q1 2024. This potentially attractive valuation is underscored by a gross profit margin of a robust 80.22% in the same period, reflecting the company's ability to maintain profitability despite market fluctuations.
Additionally, InvestingPro Tips for Everi Holdings highlight that management has been actively engaging in share buybacks, which often signals confidence in the company's future performance. Moreover, the company is noted for its high shareholder yield, which can be a sign of a management team that is focused on creating value for its investors. It's also worth mentioning that Everi Holdings is trading near its 52-week low and has been deemed by the Relative Strength Index (RSI) to be in oversold territory, potentially indicating a buying opportunity for value investors.
For those interested in a deeper analysis, there are over 10 additional InvestingPro Tips available, which can provide further insight into Everi Holdings' financial health and stock performance. Investors can explore these tips and more on InvestingPro's platform by visiting https://www.investing.com/pro/EVRI. Moreover, using the coupon code PRONEWS24 will grant an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering an even greater value for those seeking comprehensive investment analysis tools.
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