ABS Direct Equity Fund LLC Has $732,000 Stake in Euronet Worldwide, Inc. $EEFT

Key Points

• ABS Direct Equity Fund LLC cut its Euronet Worldwide stake by 75% in the second quarter, selling 30,000 shares and retaining 10,000 shares valued at approximately $732,000.
• Institutional ownership remains high at 91.6%, with BlackRock initiating a roughly $244.7 million position and several other major investors significantly increasing their holdings.
• Analysts’ consensus rating is “Hold” with a $94 target price, while EEFT recently traded near $70.73. The company beat its prior-year earnings but missed the latest quarterly EPS consensus, reporting $2.82 versus $2.93 expected.

ABS Direct Equity Fund LLC reduced its position in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 75.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,000 shares of the business services provider's stock after selling 30,000 shares during the quarter. ABS Direct Equity Fund LLC's holdings in Euronet Worldwide were worth $732,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of EEFT. BlackRock Inc. bought a new position in shares of Euronet Worldwide in the 2nd quarter worth about $244,726,000. California State Teachers Retirement System lifted its stake in Euronet Worldwide by 6,067.4% in the second quarter. California State Teachers Retirement System now owns 2,967,928 shares of the business services provider's stock valued at $217,223,000 after buying an additional 2,919,805 shares during the period. Bank of Montreal Can boosted its holdings in shares of Euronet Worldwide by 933.8% during the 4th quarter. Bank of Montreal Can now owns 1,993,682 shares of the business services provider's stock worth $151,739,000 after buying an additional 1,800,837 shares in the last quarter. Jupiter Topco LLC bought a new position in shares of Euronet Worldwide during the 2nd quarter worth approximately $98,213,000. Finally, AQR Capital Management LLC grew its position in shares of Euronet Worldwide by 131.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,308,267 shares of the business services provider's stock worth $132,632,000 after buying an additional 744,040 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on EEFT shares. Weiss Ratings lowered shares of Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Needham & Company LLC increased their target price on shares of Euronet Worldwide from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Wolfe Research reduced their price target on shares of Euronet Worldwide from $75.00 to $70.00 and set an "underperform" rating for the company in a report on Tuesday, August 25th. Finally, DA Davidson restated a "buy" rating and issued a $102.00 price target on shares of Euronet Worldwide in a report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $94.00.

Euronet Worldwide Price Performance

Shares of EEFT opened at $70.73 on Friday. Euronet Worldwide, Inc. has a 12-month low of $62.50 and a 12-month high of $91.58. The business's fifty day moving average is $74.42 and its 200 day moving average is $71.41. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The stock has a market cap of $2.69 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.57 and a beta of 0.83.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its quarterly earnings results 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 net margin of 6.63% and a return on equity of 28.60%. During the same quarter in the prior year, the business posted $2.56 EPS. The business's revenue was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current fiscal 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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