Bank of New York Mellon Corp Purchases New Holdings in Euronet Worldwide, Inc. $EEFT

Key Points

• Bank of New York Mellon acquired 250,632 Euronet Worldwide shares in the second quarter, valued at approximately $18.3 million and representing 0.66% of the company.
• Institutional investors own 91.6% of Euronet Worldwide, while the stock recently traded at $69.51, below its 50-day average of $74.26 and 200-day average of $71.29.
• Euronet reported quarterly earnings of $2.82 per share, missing estimates by $0.11, though revenue increased 3.2% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $94.

Bank of New York Mellon Corp acquired a new position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 250,632 shares of the business services provider's stock, valued at approximately $18,344,000. Bank of New York Mellon Corp owned 0.66% of Euronet Worldwide at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Johnson Financial Group Inc. acquired a new position in Euronet Worldwide in the 3rd quarter valued at $26,000. Danske Bank A S acquired a new stake in Euronet Worldwide in the third quarter valued at about $26,000. Geneos Wealth Management Inc. lifted its position in Euronet Worldwide by 48.4% in the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider's stock valued at $36,000 after purchasing an additional 109 shares during the period. Kestra Advisory Services LLC purchased a new stake in Euronet Worldwide in the 4th quarter valued at approximately $38,000. Finally, 1620 Investment Advisors Inc. boosted its holdings in Euronet Worldwide by 123.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 589 shares of the business services provider's stock valued at $45,000 after purchasing an additional 325 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Euronet Worldwide Price Performance

EEFT stock opened at $69.51 on Tuesday. The stock's 50 day moving average price is $74.26 and its 200 day moving average price is $71.29. The firm has a market cap of $2.65 billion, a P/E ratio of 10.91, a PEG 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. Euronet Worldwide, Inc. has a 1 year low of $62.50 and a 1 year high of $94.21.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.Euronet Worldwide's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.56 EPS. On average, sell-side analysts expect that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

EEFT has been the topic of a number of analyst reports. Wolfe Research decreased their price target on Euronet Worldwide from $75.00 to $70.00 and set an "underperform" rating on the stock in a research note on Tuesday, August 25th. Weiss Ratings cut Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. DA Davidson restated a "buy" rating and set a $102.00 target price on shares of Euronet Worldwide in a research report on Friday, July 10th. Finally, Needham & Company LLC upped their price target 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. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $94.00.

About Euronet Worldwide

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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