Everi Holdings Inc. (NYSE:EVRI) has reported a recent transaction involving one of its top executives. Dean A. Ehrlich, the company's EVP and Games Business Leader, sold a total of 6,337 shares of common stock on May 14, 2024, for a total value exceeding $48,000.
The shares were sold at prices ranging from $7.64 to $7.73 per share, according to the latest SEC filing. This sale was part of a "sell to cover" transaction, where shares initially acquired upon the settlement of restricted stock units were sold to satisfy the statutory tax obligations associated with such settlement.
On May 10, 2024, Ehrlich also acquired a total of 15,817 shares through the vesting of restricted stock units. These units represent a contingent right to receive shares of common stock and are part of a compensation structure that rewards executives for their performance and commitment to the company.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's future prospects. It's worth noting that the transactions reported are in line with Everi Holdings Inc.'s policies regarding executive share ownership and tax obligations.
InvestingPro Insights
As investors digest the recent insider transactions at Everi Holdings Inc. (NYSE:EVRI), it's important to consider the broader financial context provided by InvestingPro data and insights. The company's market capitalization stands at a moderate $639.82 million, and it boasts an attractive price-to-earnings (P/E) ratio of 10.84, which adjusts to an even more compelling 9.07 when looking at the last twelve months as of Q1 2024. This suggests that the stock may be undervalued relative to its earnings.
One of the most striking InvestingPro Data metrics for Everi Holdings is its gross profit margin, which is reported at an impressive 80.22% for the same period. This figure highlights the company's ability to retain a significant portion of its revenue as gross profit. Additionally, the company's management has demonstrated confidence in its future by aggressively buying back shares, a move that often signals a belief in undervalued stock prices and a commitment to enhancing shareholder value.
Investors considering Everi Holdings should also note the InvestingPro Tip that the stock is currently trading near its 52-week low, which might present a buying opportunity for those who believe in the company's fundamentals. The Relative Strength Index (RSI) suggests the stock is in oversold territory, reinforcing this perspective. For those looking for more detailed analysis, there are additional InvestingPro Tips available, including insights on the company's valuation which implies a strong free cash flow yield and the stock's recent price movements.
To explore these additional insights and to get a more comprehensive understanding of Everi Holdings Inc.'s investment potential, visit https://www.investing.com/pro/EVRI. And remember, by using the coupon code PRONEWS24, you can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering you access to a wealth of expert financial analysis and tips, including those not listed here.
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