Executive Wealth Management LLC bought a new stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) in the 2nd quarter, Holdings Channel.com reports. The firm bought 7,013 shares of the business services provider’s stock, valued at approximately $1,180,000.
A number of other hedge funds also recently modified their holdings of EEFT. Rice Hall James & Associates LLC boosted its holdings in Euronet Worldwide by 1,147.4% during the 1st quarter. Rice Hall James & Associates LLC now owns 227,034 shares of the business services provider’s stock valued at $32,373,000 after acquiring an additional 208,833 shares during the period. Columbus Circle Investors lifted its holdings in Euronet Worldwide by 194.1% in the 1st quarter. Columbus Circle Investors now owns 283,292 shares of the business services provider’s stock worth $40,395,000 after buying an additional 186,971 shares during the period. State Treasurer State of Michigan lifted its holdings in Euronet Worldwide by 111.0% in the 1st quarter. State Treasurer State of Michigan now owns 225,830 shares of the business services provider’s stock worth $32,201,000 after buying an additional 118,800 shares during the period. Amundi Pioneer Asset Management Inc. lifted its holdings in Euronet Worldwide by 104.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 170,543 shares of the business services provider’s stock worth $24,318,000 after buying an additional 86,931 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in Euronet Worldwide in the 1st quarter worth approximately $10,816,000. Institutional investors own 98.01% of the company’s stock.
In other Euronet Worldwide news, VP Jeffrey B. Newman sold 5,461 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $161.12, for a total value of $879,876.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.40% of the company’s stock.
EEFT has been the subject of several research analyst reports. Wolfe Research initiated coverage on Euronet Worldwide in a report on Wednesday, July 31st. They issued an “outperform” rating and a $200.00 price objective for the company. BidaskClub cut Euronet Worldwide from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 11th. Citigroup set a $189.00 price objective on Euronet Worldwide and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, DA Davidson cut Euronet Worldwide from a “buy” rating to a “neutral” rating and set a $161.20 price objective for the company. in a report on Thursday, June 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $165.40.
NASDAQ EEFT traded up $2.89 on Thursday, hitting $150.35. The company’s stock had a trading volume of 3,145 shares, compared to its average volume of 499,920. Euronet Worldwide, Inc. has a 52-week low of $91.78 and a 52-week high of $171.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50-day simple moving average is $161.29. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.71 and a beta of 1.16.
Euronet Worldwide Profile
Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services.
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