Reinhart Partners LLC. Buys 136,613 Shares of Euronet Worldwide, Inc. $EEFT

Key Points

• Reinhart Partners increased its Euronet Worldwide stake by 9.2%, purchasing 136,613 additional shares and bringing its holdings to 1.63 million shares, valued at approximately $119.1 million. Institutional investors collectively own 91.6% of the company.
• Analyst sentiment remains mixed: DA Davidson and Needham maintained Buy ratings, while the broader analyst consensus is Hold, with an average price target of $96 versus the stock’s $72.08 opening price.
• Euronet reported quarterly EPS of $2.82, missing expectations of $2.93, though revenue increased 3.2% year over year. Director Thomas A. McDonnell also bought 3,000 shares, while insiders own 12.19% of the company.

Reinhart Partners LLC. boosted its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 9.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627,141 shares of the business services provider's stock after purchasing an additional 136,613 shares during the quarter. Euronet Worldwide comprises approximately 2.7% of Reinhart Partners LLC.'s portfolio, making the stock its 14th biggest holding. Reinhart Partners LLC. owned approximately 4.27% of Euronet Worldwide worth $119,091,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EEFT. Weitz Investment Management Inc. purchased a new stake in shares of Euronet Worldwide during the 4th quarter valued at $12,178,000. Y Intercept Hong Kong Ltd purchased a new position in Euronet Worldwide in the first quarter worth $1,795,000. Rock Creek Group LP grew its position in Euronet Worldwide by 233.3% in the fourth quarter. Rock Creek Group LP now owns 100,000 shares of the business services provider's stock worth $7,611,000 after acquiring an additional 70,000 shares in the last quarter. New Age Alpha Advisors LLC increased its stake in Euronet Worldwide by 102.6% in the fourth quarter. New Age Alpha Advisors LLC now owns 34,932 shares of the business services provider's stock valued at $2,659,000 after acquiring an additional 17,690 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Euronet Worldwide by 141.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 42,799 shares of the business services provider's stock valued at $3,252,000 after acquiring an additional 25,085 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Euronet Worldwide

In related news, Director Thomas A. Mcdonnell bought 3,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $66.87 per share, for a total transaction of $200,610.00. Following the acquisition, the director directly owned 100,219 shares of the company's stock, valued at $6,701,644.53. The trade was a 3.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.19% of the company's stock.

Euronet Worldwide Price Performance

Shares of NASDAQ:EEFT opened at $72.08 on Friday. The stock has a market cap of $2.74 billion, a PE ratio of 11.32, a PEG ratio of 0.57 and a beta of 0.82. The company's fifty day moving average is $73.27 and its 200 day moving average is $71.57. Euronet Worldwide, Inc. has a 52 week low of $62.50 and a 52 week high of $98.52. The company has a quick ratio of 1.28, a current ratio of 1.37 and a debt-to-equity ratio of 1.47.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 EPS. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. Research analysts anticipate that Euronet Worldwide, Inc. will post 9.83 earnings per share for the current year.

Euronet Worldwide Profile

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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