Euronet Worldwide, Inc. $EEFT Shares Sold by Wasatch Advisors LP

Key Points

• Wasatch Advisors LP reduced its Euronet Worldwide stake by 11.3% in the second quarter, selling 58,832 shares and retaining 459,922 shares valued at approximately $33.7 million. Institutional investors collectively own 91.6% of the company.
• Euronet shares opened at $70.47, down 0.6%, and trade well below their 52-week high of $98.52. The company reported quarterly EPS of $2.82, missing the $2.93 consensus estimate, although revenue increased 3.2% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $96 average price target; three analysts rate the stock Buy, three Hold, and one Sell. Director Thomas A. McDonnell separately purchased 3,000 shares, while insiders own 12.19% of the company.

Wasatch Advisors LP trimmed its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 459,922 shares of the business services provider's stock after selling 58,832 shares during the quarter. Wasatch Advisors LP owned approximately 1.21% of Euronet Worldwide worth $33,662,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in shares of 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 buying an additional 109 shares in the last quarter. Evergreen Capital Management LLC grew its stake in Euronet Worldwide by 0.4% in 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 acquiring an additional 129 shares during the last quarter. Parallel Advisors LLC grew its stake in Euronet Worldwide by 23.6% in the 1st quarter. Parallel Advisors LLC now owns 775 shares of the business services provider's stock valued at $51,000 after acquiring an additional 148 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in 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 in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Euronet Worldwide Trading Down 0.6%

Euronet Worldwide stock opened at $70.47 on Wednesday. The stock has a 50-day moving average price of $73.19 and a 200 day moving average price of $71.52. Euronet Worldwide, Inc. has a 52 week low of $62.50 and a 52 week high of $98.52. The stock has a market cap of $2.68 billion, a PE ratio of 11.06, a P/E/G ratio of 0.55 and a beta of 0.82. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.47.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last released its earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share (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 quarter in the previous year, the business earned $2.56 earnings per share. The business's quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Euronet Worldwide, Inc. will post 9.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on EEFT. Weiss Ratings raised shares of Euronet Worldwide from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. DA Davidson reissued a "buy" rating and set a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Finally, Needham & Company LLC lifted their price objective on Euronet Worldwide from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Euronet Worldwide has a consensus rating of "Hold" and a consensus price target of $96.00.

Insider Activity

In other news, Director Thomas A. Mcdonnell acquired 3,000 shares of Euronet Worldwide stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $66.87 per share, with a total value of $200,610.00. Following the completion of the purchase, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.19% of the company's stock.

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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