Published on 7 Feb 2022 on Insider Monkey via Yahoo Finance

Did The Smart Money Play Everi Holdings Inc (EVRI) Correctly?

Technology stocks had a lousy start to 2022. QQQ lost 9% of its value in January. Pandemic winners are getting crushed while energy stocks are surging. Roblox lost 36%, Moderna lost 33%, and Carvana and Shopify lost 30% of their values in January. We aren't certain about the bubbly technology stocks that trade for ridiculously high multiples of their revenues, but we believe top hedge fund stocks will deliver positive returns for the rest of the year. In this article, we will take a closer look at hedge fund sentiment towards Everi Holdings Inc (NYSE:EVRI) at the end of the third quarter and determine whether the smart money was really smart about this stock.

Everi Holdings Inc (NYSE:EVRI) shares haven't seen a lot of action during the second quarter. Overall, hedge fund sentiment was unchanged. The stock was in 31 hedge funds' portfolios at the end of September. Our calculations also showed that EVRI isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings). At the end of this article we will also compare EVRI to other stocks including Hello Group Inc. (NASDAQ:MOMO), Cimpress plc (NASDAQ:CMPR), and Cavco Industries, Inc. (NASDAQ:CVCO) to get a better sense of its popularity.

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. Keeping this in mind we're going to analyze the key hedge fund action regarding Everi Holdings Inc (NYSE:EVRI).