EVO Payments Inc (NASDAQ:EVOP) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,895,300 shares, a decline 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 days-to-cover ratio is presently 5.7 days. Currently, 7.7% of the company’s shares are sold short.
Shares of NASDAQ:EVOP traded up $0.13 on Thursday, hitting $27.91. 490,384 shares of the company’s stock were exchanged, compared to its average volume of 348,174. EVO Payments has a 12 month low of $20.40 and a 12 month high of $31.93. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -18.86, a price-to-earnings-growth ratio of 4.49 and a beta of 0.61. The business’s 50 day simple moving average is $29.97 and its two-hundred day simple moving average is $28.54.
EVO Payments (NASDAQ:EVOP) last released its earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. EVO Payments had a negative return on equity of 5.05% and a negative net margin of 6.85%. The business had revenue of $122.52 million during the quarter, compared to the consensus estimate of $141.10 million. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, research analysts anticipate that EVO Payments will post 0.55 earnings per share for the current fiscal year.
In other EVO Payments news, EVP Groot Steven J. De sold 2,000 shares of EVO Payments stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Wilson sold 4,000 shares of EVO Payments stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $29.00, for a total transaction of $116,000.00. The disclosure for this sale can be found here. Insiders have sold 78,999 shares of company stock valued at $2,358,053 over the last ninety days. 61.16% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of EVO Payments by 22.3% in the second quarter. US Bancorp DE now owns 2,321 shares of the company’s stock valued at $73,000 after acquiring an additional 423 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of EVO Payments in the second quarter valued at about $75,000. Bank of Montreal Can bought a new stake in shares of EVO Payments in the second quarter valued at about $82,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of EVO Payments in the first quarter valued at about $91,000. Finally, Legal & General Group Plc raised its holdings in shares of EVO Payments by 51.4% in the fourth quarter. Legal & General Group Plc now owns 3,728 shares of the company’s stock valued at $92,000 after acquiring an additional 1,265 shares in the last quarter. Institutional investors and hedge funds own 37.87% of the company’s stock.
Several research firms have commented on EVOP. Zacks Investment Research lowered shares of EVO Payments from a “strong-buy” rating to a “hold” rating in a research note on Monday. BTIG Research reaffirmed a “hold” rating on shares of EVO Payments in a research note on Thursday, August 8th. Northcoast Research began coverage on shares of EVO Payments in a research note on Friday, May 24th. They set a “neutral” rating for the company. Cantor Fitzgerald began coverage on shares of EVO Payments in a research note on Wednesday, May 29th. They set a “neutral” rating and a $30.05 price objective for the company. Finally, ValuEngine lowered shares of EVO Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. EVO Payments presently has an average rating of “Hold” and a consensus price target 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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