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Ralph Marra, a senior counsel at Calcagni & Kanefsky LLP, made the complaint in a letter Nov. 12 to the New Jersey Division of Gaming Enforcement, a copy of which was provided to Bloomberg News. Marra stated he was writing on behalf of private investigators he didn’t name. The investigators have been retained by a U.S.-based competitor of Evolution, according to folks with information of the matter who asked not to be identified. We can see that Evolution Gaming Group does have institutional investors and they hold 42% of the stock. But we cannot rely on that reality alone, because institutions make terrible investments from time to time, just like absolutely everyone does. It is not uncommon to see a major share value drop if two large institutional investors attempt to sell out of a stock at the identical time. So it is worth checking the past earnings trajectory of Evolution Gaming Group, (below). Of course, hold in mind that there are other aspects to consider, as well.

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