Bank of America Corp DE Sells 70,163 Shares of Euronet Worldwide, Inc. $EEFT

Key Points

• Bank of America reduced its Euronet Worldwide stake by 19.6%, selling 70,163 shares during the first quarter and retaining 287,907 shares valued at approximately $19.1 million. Institutional investors collectively own 91.6% of EEFT.
• Euronet’s latest quarterly results fell short of expectations: earnings per share were $2.82 versus the $2.93 consensus estimate, although revenue increased 3.2% year over year.
• Analyst sentiment remains mixed, with three Buy, three Hold and one Sell rating; the stock carries an overall “Hold” consensus and an average price target of $96, compared with a recent price of $68.62.

Bank of America Corp DE lowered its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 287,907 shares of the business services provider's stock after selling 70,163 shares during the quarter. Bank of America Corp DE owned about 0.76% of Euronet Worldwide worth $19,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EEFT. Geneos Wealth Management Inc. grew its holdings in Euronet Worldwide by 48.4% during the 1st 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 in the last quarter. Evergreen Capital Management LLC raised its holdings 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 worth $3,450,000 after acquiring an additional 129 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Euronet Worldwide by 23.6% during the 1st quarter. Parallel Advisors LLC now owns 775 shares of the business services provider's stock worth $51,000 after acquiring an additional 148 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Euronet Worldwide by 1.8% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 8,748 shares of the business services provider's stock valued at $666,000 after acquiring an additional 158 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Euronet Worldwide by 1.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 10,817 shares of the business services provider's stock valued at $823,000 after acquiring an additional 164 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

Insider Transactions at Euronet Worldwide

In other Euronet Worldwide news, Director Thomas A. Mcdonnell bought 3,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $66.87 per share, for a total transaction of $200,610.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.19% of the stock is currently owned by insiders.

Euronet Worldwide Price Performance

Shares of Euronet Worldwide stock opened at $68.62 on Thursday. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 10.77, 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 quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50 day moving average price of $73.67 and a 200-day moving average price of $71.42. Euronet Worldwide, Inc. has a one year low of $62.50 and a one year high of $98.52.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The business services provider reported $2.82 earnings per share 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%. Euronet Worldwide's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.56 EPS. Equities analysts expect that Euronet Worldwide, Inc. will post 9.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EEFT. Weiss Ratings cut shares of Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Needham & Company LLC increased their price objective on shares of Euronet Worldwide from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, DA Davidson reissued a "buy" rating and issued a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $96.00.

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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