Short Interest in EVO Payments Inc (NASDAQ:EVOP) Decreases By 8.2%

EVO Payments Inc (NASDAQ:EVOP) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 1,895,300 shares, a decrease of 8.2% from the June 30th total of 2,065,300 shares. Based on an average daily trading volume, of 330,100 shares, the short-interest ratio is currently 5.7 days. Currently, 7.7% of the shares of the company are sold short.

NASDAQ:EVOP traded up $0.13 during trading hours on Thursday, reaching $27.91. The company had a trading volume of 490,384 shares, compared to its average volume of 348,174. EVO Payments has a 1-year low of $20.40 and a 1-year high of $31.93. The firm has a market cap of $2.41 billion, a PE ratio of -18.86, a price-to-earnings-growth ratio of 4.49 and a beta of 0.61. The business’s 50 day moving average price is $29.97 and its 200-day moving average price is $28.54.

EVO Payments (NASDAQ:EVOP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. The company had revenue of $122.52 million during the quarter, compared to the consensus estimate of $141.10 million. EVO Payments had a negative return on equity of 5.05% and a negative net margin of 6.85%. The firm’s revenue was down 13.0% compared to the same quarter last year. On average, equities analysts anticipate that EVO Payments will post 0.55 earnings per share for the current year.

In related news, EVP Groot Steven J. De sold 48,899 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $29.87, for a total value of $1,460,613.13. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael L. Reidenbach sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $31.18, for a total value of $124,720.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,999 shares of company stock worth $2,358,053. 61.16% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in EVOP. Vanguard Group Inc. raised its stake in shares of EVO Payments by 34.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,830,161 shares of the company’s stock worth $89,236,000 after buying an additional 727,681 shares during the period. BlackRock Inc. raised its stake in shares of EVO Payments by 31.7% during the 2nd quarter. BlackRock Inc. now owns 2,186,648 shares of the company’s stock worth $68,946,000 after buying an additional 526,836 shares during the period. Waddell & Reed Financial Inc. raised its stake in shares of EVO Payments by 61.9% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,209,381 shares of the company’s stock worth $38,132,000 after buying an additional 462,523 shares during the period. Victory Capital Management Inc. raised its stake in shares of EVO Payments by 51.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,118,074 shares of the company’s stock worth $32,480,000 after buying an additional 379,849 shares during the period. Finally, Emerald Advisers LLC acquired a new position in shares of EVO Payments during the 2nd quarter worth approximately $10,888,000. 37.87% of the stock is owned by institutional investors and hedge funds.

EVOP has been the subject of a number of analyst reports. BTIG Research reissued a “hold” rating on shares of EVO Payments in a report on Thursday, August 8th. ValuEngine downgraded EVO Payments from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Cantor Fitzgerald initiated coverage on EVO Payments in a report on Wednesday, May 29th. They issued a “neutral” rating and a $30.05 price target for the company. Zacks Investment Research downgraded EVO Payments from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Northcoast Research initiated coverage on EVO Payments in a report on Friday, May 24th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. EVO Payments currently has an average rating of “Hold” and a consensus target price of $28.76.

About EVO Payments

EVO Payments, Inc operates as an integrated merchant acquirer and payment processor servicing approximately 550,000 merchants. The company processes approximately 950 million transactions in North America and approximately 2.1 billion transactions in Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, security tokenization, and encryption solutions at the point-of-sale and online; dynamic currency conversion; loyalty offers; and other ancillary solutions.

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