Engineers Gate Manager LP Purchases Shares of 31,113 Euronet Worldwide, Inc. $EEFT

Key Points

• Engineers Gate Manager LP purchased 31,113 shares of Euronet Worldwide worth approximately $2.28 million, establishing a stake of about 0.08%. Institutional investors collectively own 91.6% of the company.
• Euronet reported quarterly earnings of $2.82 per share, below analysts’ $2.93 estimate, while revenue increased 3.2% year over year. Analysts expect full-year earnings of approximately $9.55 per share.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating; the consensus rating is Hold, with an average price target of $94 versus the stock’s reported price of $71.26.

Engineers Gate Manager LP purchased a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 31,113 shares of the business services provider's stock, valued at approximately $2,277,000. Engineers Gate Manager LP owned about 0.08% of Euronet Worldwide as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. PenderFund Capital Management Ltd. purchased a new stake in shares of Euronet Worldwide during the second quarter worth about $42,000. Allworth Financial LP purchased a new position in Euronet Worldwide during the 2nd quarter valued at about $43,000. Parallel Advisors LLC increased its holdings in Euronet Worldwide by 23.6% during the 1st quarter. Parallel Advisors LLC now owns 775 shares of the business services provider's stock valued at $51,000 after purchasing an additional 148 shares during the period. Clearstead Advisors LLC raised its position in Euronet Worldwide by 182.1% during the 4th quarter. Clearstead Advisors LLC now owns 677 shares of the business services provider's stock valued at $52,000 after purchasing an additional 437 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Euronet Worldwide in the 2nd quarter worth approximately $73,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Euronet Worldwide Stock Performance

Euronet Worldwide stock opened at $71.26 on Tuesday. The stock's 50 day simple moving average is $74.18 and its two-hundred day simple moving average is $71.43. 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 market cap of $2.71 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.58 and a beta of 0.83. Euronet Worldwide, Inc. has a fifty-two week low of $62.50 and a fifty-two week high of $91.58.

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

Wall Street Analysts Forecast Growth

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

About Euronet Worldwide

Euronet Worldwide, Inc provides electronic payment and transaction-processing services through a global network of automated teller machines, point-of-sale terminals, money-transfer locations and digital platforms. The company serves financial institutions, retailers, mobile operators, money-transfer agents and consumers.

Euronet operates through three primary business areas: EFT Processing, which includes ATM services, electronic payment processing and related financial technology; epay, which distributes prepaid mobile airtime, gift cards and other electronic payment products; and Money Transfer, which provides international and domestic remittance services through the Ria Money Transfer and xe brands, among others.

Headquartered in Leawood, Kansas, Euronet was founded in 1994 and initially focused on developing ATM networks in Central Europe before expanding into broader payment-processing and money-transfer services.

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