EVRI, the stock of Global Cash Access Holdings Inc (NYSE:EVRI), has reached a new 52-week high, trading at $13.53, with an impressive gross profit margin of 80% according to InvestingPro data. This peak reflects a significant bullish trend for the company, which has seen its stock value surge over the past year. Investors have been showing increased confidence in EVRI, as evidenced by the remarkable 66% growth in its stock price over the last six months, though the current P/E ratio of 87.7 suggests the stock may be trading at a premium. The company’s strong performance and the positive market sentiment have contributed to this milestone, marking a noteworthy period for both EVRI and its shareholders. For deeper insights into EVRI’s valuation and 13 additional ProTips, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Everi Holdings Inc. has seen significant developments in its merger and acquisition activities. The company’s CFO, Mark F. Labay, is set to become the Chief Integration Officer at Newco in a transaction expected to close by the end of the third quarter of 2025. Everi is also part of a definitive agreement with International Game Technology (NYSE:IGT) PLC and others, outlining a transaction that will result in Everi and IGT’s Gaming & Digital business being acquired by a new holding company owned by Apollo Global Management (NYSE:APO), Inc. affiliates.
The proposed transaction has cleared a crucial regulatory hurdle, moving the deal closer to completion. However, the completion is still subject to obtaining necessary gaming and regulatory approvals. Notably, Everi’s earnings and revenue have been under scrutiny by analysts. B.Riley maintained a Neutral rating on Everi, adjusting its EBITDA estimates for 2024 and 2025 due to potential delays in product transitions within Everi’s games business.
Everi’s stock rating was downgraded by Stifel from Buy to Hold following the announcement of its acquisition by Apollo Global Management. Concurrently, Raymond (NS:RYMD) James adjusted Everi’s stock rating from a ’Strong Buy’ to a ’Market Perform’ status. These are some of 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.