Arrowstreet Capital Limited Partnership Buys 63,785 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

Arrowstreet Capital Limited Partnership increased its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 57.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 175,027 shares of the business services provider's stock after purchasing an additional 63,785 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.40% of Euronet Worldwide worth $18,000,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its stake in Euronet Worldwide by 28.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,014 shares of the business services provider's stock valued at $1,236,000 after acquiring an additional 2,632 shares during the period. Holocene Advisors LP bought a new position in shares of Euronet Worldwide in the third quarter valued at approximately $666,000. Reinhart Partners LLC. boosted its holdings in shares of Euronet Worldwide by 3.4% in the 4th quarter. Reinhart Partners LLC. now owns 627,149 shares of the business services provider's stock worth $64,496,000 after acquiring an additional 20,824 shares in the last quarter. Value Holdings Management CO. LLC grew its position in Euronet Worldwide by 119.8% during the 4th quarter. Value Holdings Management CO. LLC now owns 57,823 shares of the business services provider's stock worth $5,947,000 after acquiring an additional 31,518 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Euronet Worldwide by 2.0% in the third quarter. Stifel Financial Corp now owns 11,729 shares of the business services provider's stock valued at $1,164,000 after buying an additional 232 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, CEO Michael J. Brown sold 95,000 shares of Euronet Worldwide stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $100.69, for a total value of $9,565,550.00. Following the completion of the transaction, the chief executive officer now owns 1,418,966 shares in the company, valued at $142,875,686.54. This trade represents a 6.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.50% of the company's stock.

Euronet Worldwide Trading Up 11.6 %

NASDAQ:EEFT traded up $10.18 during mid-day trading on Wednesday, hitting $97.62. 779,494 shares of the company's stock were exchanged, compared to its average volume of 337,656. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92. Euronet Worldwide, Inc. has a fifty-two week low of $85.24 and a fifty-two week high of $117.66. The firm has a market capitalization of $4.22 billion, a P/E ratio of 15.09, a PEG ratio of 0.78 and a beta of 1.18. The company has a 50 day simple moving average of $101.58 and a 200-day simple moving average of $101.26.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($0.23). Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. As a group, research analysts expect that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a research report on Saturday, February 22nd. Stephens reiterated an "overweight" rating and issued a $130.00 price target on shares of Euronet Worldwide in a research report on Friday, February 14th. Keefe, Bruyette & Woods lifted their target price on Euronet Worldwide from $108.00 to $112.00 and gave the stock a "market perform" rating in a report on Friday, February 14th. Oppenheimer dropped their target price on shares of Euronet Worldwide from $135.00 to $128.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $120.00 price target on shares of Euronet Worldwide in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $125.86.

Euronet Worldwide 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.