Euronet Worldwide Inc. (EEFT) Position Reduced by Hood River Capital Management LLC
Hood River Capital Management LLC cut its stake in Euronet Worldwide Inc. (NASDAQ:EEFT) by 65.1% during the second quarter, Holdings Channel reports. The fund owned 54,524 shares of the company’s stock after selling 101,679 shares during the period. Hood River Capital Management LLC’s holdings in Euronet Worldwide were worth $3,773,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Euronet Worldwide during the fourth quarter valued at approximately $32,384,000. Ngam Advisors L.P. purchased a new stake in Euronet Worldwide during the first quarter valued at approximately $1,764,000. TIAA CREF Investment Management LLC boosted its stake in Euronet Worldwide by 7.7% in the first quarter. TIAA CREF Investment Management LLC now owns 357,386 shares of the company’s stock valued at $26,486,000 after buying an additional 25,518 shares during the last quarter. Teachers Advisors Inc. boosted its stake in Euronet Worldwide by 247.8% in the first quarter. Teachers Advisors Inc. now owns 261,758 shares of the company’s stock valued at $19,399,000 after buying an additional 186,489 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Euronet Worldwide by 50.0% in the first quarter. BlackRock Inc. now owns 3,464 shares of the company’s stock valued at $257,000 after buying an additional 1,154 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.
Euronet Worldwide Inc. (NASDAQ:EEFT) traded down 0.86% during trading on Friday, hitting $82.75. 462,426 shares of the company traded hands. Euronet Worldwide Inc. has a one year low of $52.00 and a one year high of $84.43. The firm has a 50 day moving average of $79.49 and a 200 day moving average of $76.37. The firm has a market cap of $4.31 billion, a P/E ratio of 30.07 and a beta of 1.49.
Euronet Worldwide (NASDAQ:EEFT) last released its earnings results on Tuesday, July 26th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.90 by $0.07. Euronet Worldwide had a net margin of 8.01% and a return on equity of 22.65%. The business earned $476.90 million during the quarter, compared to analyst estimates of $470.99 million. During the same period in the prior year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 12.2% on a year-over-year basis. On average, analysts expect that Euronet Worldwide Inc. will post $4.07 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the stock. Monness Crespi & Hardt lowered shares of Euronet Worldwide from a “buy” rating to a “neutral” rating in a report on Friday, June 10th. Zacks Investment Research lowered shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.00.
In other news, CEO Kevin J. Caponecchi sold 58,573 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $75.52, for a total transaction of $4,423,432.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeffrey B. Newman sold 5,772 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $77.80, for a total transaction of $449,061.60. The disclosure for this sale can be found here. Insiders own 7.30% of the company’s stock.
About Euronet Worldwide
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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