Raytheon awarded $71 million in Navy contracts for missile systems
EVRI Holdings, formerly known as Global Cash Access Holdings Inc (NYSE:EVRI), has reached a new 52-week high, with its stock price soaring to $14.15. The company, which maintains impressive gross profit margins of 78.7% and generates annual revenue of $750 million, has caught the attention of InvestingPro analysts who note the stock is currently trading in overbought territory. This milestone reflects a significant uptrend for the company, which has seen an impressive 1-year change with an 87.28% increase in its stock value. Investors have shown increased confidence in EVRI’s market position and growth prospects, contributing to the stock’s robust performance over the past year. The company’s strategic initiatives and strong financial results, including an overall "GOOD" Financial Health Score from InvestingPro, have played a key role in driving the stock to this new high. According to InvestingPro’s Fair Value analysis, the stock still shows upside potential despite its recent gains, signaling a positive outlook for its future performance.
In other recent news, Everi Holdings Inc. disclosed its preliminary financial results for the first quarter of 2025. The company is currently involved in a significant transaction, where it, along with International Game Technology (NYSE:IGT) PLC’s Gaming & Digital business, is set to be acquired by a new holding company backed by Apollo Global Management (NYSE:APO), Inc. Everi has shared these preliminary results in preparation for discussions with potential lenders to finance this transaction. The financial estimates, however, are not intended for regulatory filing purposes and are subject to risks and uncertainties, as noted in their SEC filings. In another development, Everi has reappointed Michael D. Rumbolz as Executive Chair of the Board, effective April 1, 2025. Rumbolz’s compensation includes a monthly cash payment, a discretionary bonus, and equity compensation, contingent upon the successful closing of the proposed merger. This executive arrangement highlights Everi’s focus on strategic continuity during the merger process. These developments are part of Everi’s ongoing efforts to navigate its current business landscape.
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