The Manufacturers Life Insurance Company Makes New $1.79 Million Investment in Euronet Worldwide, Inc. $EEFT

Key Points

• The Manufacturers Life Insurance Company acquired 24,445 shares of Euronet Worldwide worth approximately $1.79 million, while institutional ownership reached 91.6%. Other major investors, including BlackRock and AQR Capital Management, also added or initiated positions.
• Euronet reported quarterly EPS of $2.82, missing the $2.93 consensus estimate, though revenue increased 3.2% year over year. Analysts expect full-year EPS of approximately $9.55.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $94 target price, with price targets ranging from $70 to $102. EEFT recently traded at $73.28, well below its 52-week high of $92.45.

The Manufacturers Life Insurance Company purchased a new stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,445 shares of the business services provider's stock, valued at approximately $1,789,000. The Manufacturers Life Insurance Company owned approximately 0.06% of Euronet Worldwide at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Euronet Worldwide in the 2nd quarter worth about $244,726,000. Bank of Montreal Can increased its stake in Euronet Worldwide by 933.8% during the 4th quarter. Bank of Montreal Can now owns 1,993,682 shares of the business services provider's stock valued at $151,739,000 after purchasing an additional 1,800,837 shares in the last quarter. AQR Capital Management LLC raised its holdings in Euronet Worldwide by 131.9% in the second quarter. AQR Capital Management LLC now owns 1,308,267 shares of the business services provider's stock worth $132,632,000 after buying an additional 744,040 shares during the last quarter. Turtle Creek Asset Management Inc. raised its holdings in Euronet Worldwide by 44.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider's stock worth $122,588,000 after buying an additional 572,194 shares during the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Euronet Worldwide in the fourth quarter worth approximately $37,523,000. 91.60% of the stock is currently owned by institutional investors.

Euronet Worldwide Price Performance

EEFT opened at $73.28 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $2.79 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.59 and a beta of 0.83. The company's 50-day simple moving average is $74.57 and its two-hundred day simple moving average is $71.35. Euronet Worldwide, Inc. has a 52-week low of $62.50 and a 52-week high of $92.45.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.During the same quarter in the prior year, the business earned $2.56 earnings per share. Euronet Worldwide's revenue was up 3.2% compared to the same quarter last year. As a group, analysts predict that Euronet Worldwide, Inc. will post 9.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EEFT shares. Needham & Company LLC increased their price target on shares of Euronet Worldwide from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 30th. DA Davidson restated a "buy" rating and issued a $102.00 price objective on shares of Euronet Worldwide in a report on Friday, July 10th. Weiss Ratings cut Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Wolfe Research cut their target price on Euronet Worldwide from $75.00 to $70.00 and set an "underperform" rating on the stock in a research note on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Euronet Worldwide currently has a consensus rating of "Hold" and a consensus target price of $94.00.

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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