Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 209.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,078 shares of the business services provider’s stock after purchasing an additional 51,472 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.14% of Euronet Worldwide worth $6,646,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ETF Managers Group LLC bought a new stake in Euronet Worldwide during the second quarter worth $3,312,000. Intrinsic Edge Capital Management LLC bought a new stake in Euronet Worldwide during the second quarter worth $3,907,000. Janus Henderson Group PLC bought a new stake in Euronet Worldwide during the second quarter worth $329,644,000. Macquarie Group Ltd. bought a new stake in Euronet Worldwide during the second quarter worth $302,000. Finally, AHL Partners LLP lifted its stake in Euronet Worldwide by 275.4% during the second quarter. AHL Partners LLP now owns 31,814 shares of the business services provider’s stock worth $2,780,000 after purchasing an additional 23,340 shares during the last quarter. Hedge funds and other institutional investors own 93.90% of the company’s stock.
In other news, CFO Rick Weller sold 76,563 shares of Euronet Worldwide stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $97.51, for a total transaction of $7,465,658.13. Following the completion of the sale, the chief financial officer now directly owns 81,221 shares of the company’s stock, valued at approximately $7,919,859.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikos Fountas sold 20,789 shares of Euronet Worldwide stock in a transaction on Monday, August 7th. The stock was sold at an average price of $96.72, for a total transaction of $2,010,712.08. The disclosure for this sale can be found here. Insiders have sold a total of 306,574 shares of company stock valued at $29,668,269 over the last ninety days. 7.70% of the stock is currently owned by insiders.
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Euronet Worldwide, Inc. (NASDAQ:EEFT) opened at 99.35 on Wednesday. The stock has a 50 day moving average price of $96.73 and a 200-day moving average price of $90.35. Euronet Worldwide, Inc. has a 52 week low of $70.51 and a 52 week high of $99.93. The company has a market capitalization of $5.22 billion, a PE ratio of 32.07 and a beta of 1.34.
Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. Euronet Worldwide had a net margin of 8.23% and a return on equity of 22.32%. The company had revenue of $536.60 million during the quarter, compared to the consensus estimate of $513.10 million. During the same period in the previous year, the firm posted $0.97 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts predict that Euronet Worldwide, Inc. will post $4.55 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. DA Davidson assumed coverage on Euronet Worldwide in a research note on Wednesday, July 19th. They set a “buy” rating and a $105.00 target price for the company. Lake Street Capital assumed coverage on Euronet Worldwide in a research note on Monday, June 26th. They issued a “buy” rating and a $96.00 price target for the company. BidaskClub upgraded Euronet Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 6th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $120.00 price target on shares of Euronet Worldwide in a research note on Friday, October 6th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $105.40.
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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