Merit Financial Group LLC Makes New $520,000 Investment in Euronet Worldwide, Inc. (NASDAQ:EEFT)

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

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Euronet Worldwide by 0.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,372,449 shares of the business services provider's stock worth $340,955,000 after buying an additional 16,220 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Euronet Worldwide by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 1,386,382 shares of the business services provider's stock valued at $142,575,000 after acquiring an additional 20,805 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in Euronet Worldwide by 21.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,096,300 shares of the business services provider's stock valued at $112,743,000 after acquiring an additional 190,453 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Euronet Worldwide by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,777 shares of the business services provider's stock worth $84,512,000 after purchasing an additional 24,569 shares in the last quarter. Finally, Wasatch Advisors LP grew its stake in shares of Euronet Worldwide by 1.0% during the 4th quarter. Wasatch Advisors LP now owns 723,785 shares of the business services provider's stock worth $74,434,000 after purchasing an additional 7,246 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stephens restated an "overweight" rating and set a $130.00 target price on shares of Euronet Worldwide in a research report on Friday, February 14th. Wall Street Zen downgraded Euronet Worldwide from a "buy" rating to a "hold" rating in a research note on Saturday, February 22nd. William Blair reiterated an "outperform" rating on shares of Euronet Worldwide in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on Euronet Worldwide from $112.00 to $110.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. Finally, Needham & Company LLC cut their price target on Euronet Worldwide from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, April 25th. 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's stock. According to data from MarketBeat.com, Euronet Worldwide presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.57.

Euronet Worldwide Trading Down 3.9%

Shares of Euronet Worldwide stock traded down $4.39 during mid-day trading on Friday, hitting $107.73. 417,473 shares of the stock were exchanged, compared to its average volume of 371,429. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. Euronet Worldwide, Inc. has a twelve month low of $85.24 and a twelve month high of $114.25. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92. The company has a 50-day simple moving average of $103.73 and a 200 day simple moving average of $102.59.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.13. Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. The firm had revenue of $915.50 million for the quarter, compared to analyst estimates of $908.93 million. During the same quarter last year, the business earned $1.28 earnings per share. Euronet Worldwide's revenue was up 6.8% compared to the same quarter last year. Research analysts forecast that Euronet Worldwide, Inc. will post 9.11 EPS for the current year.

Euronet Worldwide Company Profile

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.