Merit Financial Group LLC Buys New Stake in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Merit Financial Group LLC bought a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,871 shares of the business services provider's stock, valued at approximately $520,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC purchased a new stake in Euronet Worldwide in the 4th quarter worth approximately $215,000. Dimensional Fund Advisors LP grew its stake in Euronet Worldwide by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 821,777 shares of the business services provider's stock worth $84,512,000 after acquiring an additional 24,569 shares during the period. Deutsche Bank AG grew its stake in Euronet Worldwide by 65.0% in the 4th quarter. Deutsche Bank AG now owns 5,643 shares of the business services provider's stock worth $580,000 after acquiring an additional 2,223 shares during the period. HighTower Advisors LLC grew its stake in Euronet Worldwide by 0.8% in the 4th quarter. HighTower Advisors LLC now owns 25,883 shares of the business services provider's stock worth $2,662,000 after acquiring an additional 209 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Euronet Worldwide in the 4th quarter worth approximately $28,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Euronet Worldwide Stock Down 3.9%

Shares of NASDAQ:EEFT traded down $4.39 during midday trading on Friday, hitting $107.73. 417,473 shares of the company's stock traded hands, compared to its average volume of 371,931. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.26 and a current ratio of 1.25. The company has a market cap of $4.66 billion, a PE ratio of 16.65, a P/E/G ratio of 0.78 and a beta of 1.27. The firm's fifty day moving average price is $103.73 and its two-hundred day moving average price is $102.58. Euronet Worldwide, Inc. has a twelve month low of $85.24 and a twelve month high of $114.25.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, meeting the consensus estimate of $1.13. The business had revenue of $915.50 million for the quarter, compared to analyst estimates of $908.93 million. Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.28 EPS. On average, equities research analysts anticipate that Euronet Worldwide, Inc. will post 9.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Euronet Worldwide from $112.00 to $110.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Needham & Company LLC decreased their price target on shares of Euronet Worldwide from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, April 25th. William Blair reiterated an "outperform" rating on shares of Euronet Worldwide in a report on Thursday, April 24th. Stephens reiterated an "overweight" rating and issued a $130.00 price target on shares of Euronet Worldwide in a report on Friday, February 14th. Finally, Wall Street Zen lowered shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, February 22nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.57.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.