Arrowstreet Capital Limited Partnership Sells 207,035 Shares of Euronet Worldwide, Inc. $EEFT

Key Points

• Arrowstreet Capital cut its Euronet Worldwide stake by 86% in the first quarter, selling 207,035 shares and retaining 33,829 shares valued at approximately $2.25 million. Institutional investors collectively own 91.6% of EEFT.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating. The consensus rating is Hold, with an average price target of $96.
• Euronet’s latest quarterly earnings came in at $2.82 per share, below the $2.93 consensus estimate, although revenue rose 3.2% year over year and EPS increased from $2.56 in the prior-year period.

Arrowstreet Capital Limited Partnership decreased its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 86.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,829 shares of the business services provider's stock after selling 207,035 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.09% of Euronet Worldwide worth $2,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of Euronet Worldwide by 48.4% during the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider's stock valued at $36,000 after buying an additional 109 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of Euronet Worldwide by 0.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 34,035 shares of the business services provider's stock valued at $3,450,000 after purchasing an additional 129 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Euronet Worldwide by 23.6% in the 1st quarter. Parallel Advisors LLC now owns 775 shares of the business services provider's stock worth $51,000 after purchasing an additional 148 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Euronet Worldwide by 1.8% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 8,748 shares of the business services provider's stock worth $666,000 after buying an additional 158 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Euronet Worldwide by 1.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 10,817 shares of the business services provider's stock worth $823,000 after buying an additional 164 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EEFT. Weiss Ratings upgraded shares of Euronet Worldwide from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. DA Davidson restated a "buy" rating and issued a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Finally, Needham & Company LLC raised their target price on Euronet Worldwide from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Three research 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. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $96.00.

Insiders Place Their Bets

In other Euronet Worldwide news, Director Thomas A. Mcdonnell acquired 3,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $66.87 per share, with a total value of $200,610.00. Following the purchase, the director directly owned 100,219 shares of the company's stock, valued at approximately $6,701,644.53. This represents a 3.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 12.19% of the company's stock.

Euronet Worldwide Price Performance

EEFT stock opened at $76.90 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.28 and a current ratio of 1.37. The company's fifty day moving average price is $73.13 and its 200-day moving average price is $71.58. Euronet Worldwide, Inc. has a one year low of $62.50 and a one year high of $98.52. The company has a market capitalization of $2.93 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.58 and a beta of 0.82.

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 period in the prior year, the business earned $2.56 EPS. The firm's quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts anticipate that Euronet Worldwide, Inc. will post 9.83 EPS for the current fiscal year.

Euronet Worldwide 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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