Ieq Capital LLC Purchases New Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Ieq Capital LLC acquired a new stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,444 shares of the business services provider's stock, valued at approximately $354,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Convergence Investment Partners LLC increased its holdings in Euronet Worldwide by 92.3% in the fourth quarter. Convergence Investment Partners LLC now owns 12,720 shares of the business services provider's stock valued at $1,308,000 after buying an additional 6,104 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Euronet Worldwide by 10.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 20,788 shares of the business services provider's stock worth $2,138,000 after purchasing an additional 1,942 shares during the period. New York State Teachers Retirement System lifted its position in Euronet Worldwide by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 23,277 shares of the business services provider's stock worth $2,394,000 after purchasing an additional 196 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Euronet Worldwide by 0.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,372,449 shares of the business services provider's stock worth $340,955,000 after buying an additional 16,220 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC acquired a new position in shares of Euronet Worldwide in the 4th quarter worth $231,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In related news, CEO Nikos Fountas sold 21,479 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $103.56, for a total transaction of $2,224,365.24. Following the transaction, the chief executive officer now owns 52,370 shares in the company, valued at $5,423,437.20. This represents a 29.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EEFT shares. 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 research report on Thursday, December 19th. Stephens reissued an "overweight" rating and issued a $130.00 price objective on shares of Euronet Worldwide in a research note on Friday, February 14th. StockNews.com lowered shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a research report on Saturday, February 22nd. Needham & Company LLC reissued a "buy" rating and set a $120.00 target price on shares of Euronet Worldwide in a research note on Thursday, December 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on Euronet Worldwide from $108.00 to $112.00 and gave the company a "market perform" rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Euronet Worldwide presently has an average rating of "Moderate Buy" and an average target price of $127.00.

Euronet Worldwide Stock Performance

NASDAQ:EEFT traded down $3.15 during trading hours on Monday, hitting $99.31. 249,203 shares of the company traded hands, compared to its average volume of 333,539. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 0.78 and a beta of 1.43. The firm has a 50-day moving average of $100.76 and a 200 day moving average of $101.35. Euronet Worldwide, Inc. has a twelve month low of $91.07 and a twelve month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its 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%. On average, analysts forecast that Euronet Worldwide, Inc. will post 9.11 EPS for the current year.

About Euronet Worldwide

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.