Euronet Worldwide, Inc. $EEFT Shares Acquired by Turtle Creek Asset Management Inc.

Key Points

• Turtle Creek Asset Management increased its Euronet Worldwide stake by 44.9%, acquiring 572,194 additional shares to own approximately 4.85% of EEFT, valued at $122.6 million. Institutional investors collectively own 91.6% of the company.
• Euronet reported quarterly earnings of $1.58 per share, beating estimates by $0.16, while revenue reached $1.01 billion, up 10.5% year over year and above analyst expectations.
• Analyst sentiment remains mixed, with an average “Hold” rating and a consensus price target of $95.00; recent firms maintained or issued Buy ratings with targets ranging from $85 to $102.

Turtle Creek Asset Management Inc. raised its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 44.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,847,040 shares of the business services provider's stock after buying an additional 572,194 shares during the period. Euronet Worldwide comprises approximately 4.5% of Turtle Creek Asset Management Inc.'s investment portfolio, making the stock its 11th biggest position. Turtle Creek Asset Management Inc. owned approximately 4.85% of Euronet Worldwide worth $122,588,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Euronet Worldwide by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 628,384 shares of the business services provider's stock worth $67,143,000 after acquiring an additional 91,348 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Euronet Worldwide by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,475 shares of the business services provider's stock valued at $12,980,000 after purchasing an additional 5,009 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Euronet Worldwide during the first quarter valued at $202,000. Geneos Wealth Management Inc. boosted its position in shares of Euronet Worldwide by 48.4% in the 1st 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. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Euronet Worldwide by 422.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,631 shares of the business services provider's stock valued at $165,000 after purchasing an additional 1,319 shares during the period. Institutional investors own 91.60% of the company's stock.

Euronet Worldwide Stock Performance

Shares of Euronet Worldwide stock opened at $83.67 on Thursday. Euronet Worldwide, Inc. has a 12 month low of $62.50 and a 12 month high of $105.86. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.19 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.65 and a beta of 0.83. The business has a fifty day simple moving average of $72.49 and a 200-day simple moving average of $71.56.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.16. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $969.68 million. Euronet Worldwide had a return on equity of 28.37% and a net margin of 7.15%.Euronet Worldwide's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 earnings per share. On average, sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.83 EPS for the current fiscal year.

Analyst Ratings Changes

EEFT has been the topic of several recent analyst reports. Weiss Ratings upgraded Euronet Worldwide from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $85.00 target price on shares of Euronet Worldwide in a report on Friday, May 22nd. Finally, DA Davidson reissued a "buy" rating and issued a $102.00 target price on shares of Euronet Worldwide in a research report on Friday, July 10th. Three equities 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $95.00.

Insiders Place Their Bets

In other Euronet Worldwide news, Director Thomas A. Mcdonnell bought 3,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $66.87 per share, with a total value of $200,610.00. Following the purchase, the director directly owned 100,219 shares in the company, valued at $6,701,644.53. The trade was a 3.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.19% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.