Solas Capital Management LLC bought a new stake in Euronet Worldwide, Inc. (NASDAQ:EEFT – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 124,988 shares of the business services provider’s stock, valued at approximately $9,148,000. Euronet Worldwide makes up about 4.9% of Solas Capital Management LLC’s portfolio, making the stock its 12th largest position.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Euronet Worldwide during the second quarter worth approximately $244,726,000. Bank of Montreal Can boosted its position in shares of Euronet Worldwide by 933.8% in the fourth quarter. Bank of Montreal Can now owns 1,993,682 shares of the business services provider’s stock valued at $151,739,000 after acquiring an additional 1,800,837 shares during the period. AQR Capital Management LLC grew its stake in shares of Euronet Worldwide by 131.9% in the second quarter. AQR Capital Management LLC now owns 1,308,267 shares of the business services provider’s stock worth $132,632,000 after acquiring an additional 744,040 shares during the last quarter. Turtle Creek Asset Management Inc. grew its stake in shares of Euronet Worldwide by 44.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider’s stock worth $122,588,000 after acquiring an additional 572,194 shares during the last quarter. Finally, Brown Advisory Inc. bought a new position in Euronet Worldwide during the fourth quarter worth $37,523,000. 91.60% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms recently commented on EEFT. Needham & Company LLC upped their target price on shares of Euronet Worldwide from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings lowered shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Finally, DA Davidson restated a “buy” rating and set a $102.00 price objective on shares of Euronet Worldwide in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Euronet Worldwide has an average rating of “Hold” and an average price target of $96.00.
Euronet Worldwide Trading Up 0.2%
Shares of Euronet Worldwide stock opened at $70.20 on Tuesday. The firm has a market capitalization of $2.67 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 0.56 and a beta of 0.82. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 1.37. The company’s fifty day moving average price is $73.87 and its two-hundred day moving average price is $71.40. Euronet Worldwide, Inc. has a 52-week low of $62.50 and a 52-week high of $98.47.
Euronet Worldwide (NASDAQ:EEFT – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The business services provider reported $2.82 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.During the same quarter in the prior year, the company earned $2.56 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that Euronet Worldwide, Inc. will post 9.55 EPS for the current year.
Euronet Worldwide Company Profile
Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.
In its EFT Network Services arm, Euronet operates one of the world’s largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.
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