Here’s Why Everi Holdings (EVRI) was Included in Carillon Tower’s Detractor List

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Small Cap Growth Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. Small-cap stocks overall posted rather disappointing returns in the second quarter of 2022. In what has become a common theme, the Russell 2000® Growth Index (down 19.26%) significantly lagged its Russell 2000® Value Index (down 15.28%) counterpart and has now trailed in seven consecutive quarters Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Carillon Eagle Small Cap Growth Fund mentioned Everi Holdings Inc. (NYSE:EVRI) and explained its insights for the company. Founded in 1998, Everi Holdings Inc. (NYSE:EVRI) is a Las Vegas, Nevada-based financial services company with a $1.4 billion market capitalization. Everi Holdings Inc. (NYSE:EVRI) delivered a -24.64% return since the beginning of the year, while its 12-month returns are down by -33.46%. The stock closed at $16.22 per share on September 30, 2022.

Here is what Carillon Eagle Small Cap Growth Fund has to say about Everi Holdings Inc. (NYSE:EVRI) in its Q2 2022 investor letter:

“Everi develops and manufactures casino gaming systems as well as cash-access solutions and related technologies for the gaming industry. The stock underperformed despite an earnings update that was relatively strong. The stock’s weakness can largely be attributed to macroeconomic headwinds of higher interest rates and inflation weighing on the broader leisure industry. We expect Everi to continue to grow, take market share, and generate significant cash flows.”

Our calculations show that Everi Holdings Inc. (NYSE:EVRI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Everi Holdings Inc. (NYSE:EVRI) was in 26 hedge fund portfolios at the end of the second quarter of 2022, compared to 35 funds in the previous quarter. Everi Holdings Inc. (NYSE:EVRI) delivered a -1.35% return in the past 3 months.

In October 2021, we also shared another hedge fund’s views on Everi Holdings Inc. (NYSE:EVRI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.