Short Interest in EVO Payments Inc (NASDAQ:EVOP) Increases By 6.0%

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EVO Payments Inc (NASDAQ:EVOP) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 2,298,600 shares, a growth of 6.0% from the May 30th total of 2,168,800 shares. Based on an average daily volume of 343,100 shares, the short-interest ratio is currently 6.7 days. Approximately 9.4% of the shares of the stock are sold short.

Several equities analysts have recently issued reports on EVOP shares. Cantor Fitzgerald started coverage on EVO Payments in a research note on Wednesday, May 29th. They set a “neutral” rating and a $30.05 price target on the stock. BTIG Research lowered EVO Payments from a “buy” rating to a “neutral” rating in a research note on Monday, July 1st. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Northcoast Research started coverage on EVO Payments in a research note on Friday, May 24th. They set a “neutral” rating on the stock. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. EVO Payments presently has a consensus rating of “Hold” and an average target price of $28.01.

Shares of EVOP opened at $29.67 on Wednesday. EVO Payments has a 12-month low of $19.42 and a 12-month high of $31.83. The firm’s fifty day moving average price is $29.76.

EVO Payments (NASDAQ:EVOP) last released its earnings results on Thursday, May 2nd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. EVO Payments had a negative return on equity of 0.36% and a negative net margin of 3.65%. The firm had revenue of $111.50 million for the quarter, compared to analyst estimates of $134.45 million. The company’s revenue was down 13.1% compared to the same quarter last year. Analysts forecast that EVO Payments will post 0.55 EPS for the current fiscal year.

In other news, insider Catherine E. Lafiandra sold 3,723 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $30.00, for a total transaction of $111,690.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Darren Wilson sold 4,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $29.01, for a total value of $116,040.00. The disclosure for this sale can be found here. Insiders have sold 86,189 shares of company stock worth $2,564,273 in the last 90 days.

A number of large investors have recently added to or reduced their stakes in EVOP. Rhumbline Advisers lifted its stake in EVO Payments by 168.1% in the fourth quarter. Rhumbline Advisers now owns 30,665 shares of the company’s stock valued at $757,000 after buying an additional 19,227 shares during the period. New York State Common Retirement Fund lifted its stake in EVO Payments by 60.5% in the fourth quarter. New York State Common Retirement Fund now owns 48,015 shares of the company’s stock valued at $1,185,000 after buying an additional 18,100 shares during the period. BlackRock Inc. lifted its stake in EVO Payments by 80.9% in the fourth quarter. BlackRock Inc. now owns 1,769,998 shares of the company’s stock valued at $43,666,000 after buying an additional 791,431 shares during the period. Bank of New York Mellon Corp lifted its stake in EVO Payments by 23.9% in the fourth quarter. Bank of New York Mellon Corp now owns 101,525 shares of the company’s stock valued at $2,504,000 after buying an additional 19,585 shares during the period. Finally, Raymond James & Associates acquired a new position in EVO Payments in the fourth quarter valued at about $503,000. 38.95% of the stock is currently owned by hedge funds and other institutional investors.

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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