Meritage Portfolio Management Sells 19,467 Shares of Euronet Worldwide, Inc. $EEFT

Key Points

• Meritage Portfolio Management has reduced its stake in Euronet Worldwide by 15.7%, selling 19,467 shares, bringing their total ownership to about 0.24% valued at approximately $10.6 million.
• Several institutional investors have increased their holdings in Euronet Worldwide, with Reinhart Partners increasing their stake by 21.6% and Voss Capital by 30.9% during recent quarters.
• Analysts have mixed views on the stock, with price targets ranging from $100 to $137 and a consensus rating of "Moderate Buy." Euronet's stock was trading at $83.11, significantly below its 12-month high of $114.25.

Meritage Portfolio Management lowered its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 15.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,630 shares of the business services provider's stock after selling 19,467 shares during the period. Meritage Portfolio Management owned about 0.24% of Euronet Worldwide worth $10,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EEFT. Burgundy Asset Management Ltd. increased its holdings in Euronet Worldwide by 6.9% in the first quarter. Burgundy Asset Management Ltd. now owns 1,171,426 shares of the business services provider's stock valued at $125,167,000 after purchasing an additional 75,126 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in Euronet Worldwide by 3.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,069,549 shares of the business services provider's stock valued at $114,281,000 after purchasing an additional 31,778 shares during the period. Reinhart Partners LLC. increased its holdings in Euronet Worldwide by 21.6% in the second quarter. Reinhart Partners LLC. now owns 897,910 shares of the business services provider's stock valued at $91,032,000 after purchasing an additional 159,527 shares during the period. Voss Capital LP increased its holdings in Euronet Worldwide by 30.9% in the first quarter. Voss Capital LP now owns 824,589 shares of the business services provider's stock valued at $88,107,000 after purchasing an additional 194,589 shares during the period. Finally, New South Capital Management Inc. increased its holdings in Euronet Worldwide by 5.9% in the first quarter. New South Capital Management Inc. now owns 647,810 shares of the business services provider's stock valued at $69,218,000 after purchasing an additional 36,267 shares during the period. Institutional investors own 91.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price objective on Euronet Worldwide from $110.00 to $100.00 and set a "market perform" rating for the company in a report on Wednesday, October 1st. Oppenheimer increased their price objective on Euronet Worldwide from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Euronet Worldwide in a report on Wednesday. Finally, DA Davidson restated a "buy" rating and issued a $130.00 price objective on shares of Euronet Worldwide in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

Euronet Worldwide Stock Performance

Shares of EEFT opened at $83.11 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $3.41 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.67 and a beta of 1.21. The firm's fifty day simple moving average is $91.21 and its two-hundred day simple moving average is $98.96. Euronet Worldwide, Inc. has a 12 month low of $82.72 and a 12 month high of $114.25.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The business services provider reported $2.56 EPS for the quarter, missing analysts' consensus estimates of $2.66 by ($0.10). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. Euronet Worldwide had a net margin of 8.06% and a return on equity of 26.62%. The business's revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $2.25 EPS. Euronet Worldwide has set its FY 2025 guidance at 9.640-9.990 EPS. As a group, analysts predict 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.

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