Acadian Asset Management LLC Takes $977,000 Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Acadian Asset Management LLC bought a new stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,447 shares of the business services provider's stock, valued at approximately $977,000.

Several other large investors have also modified their holdings of the business. Quadrant Capital Group LLC boosted its position in shares of Euronet Worldwide by 242.7% during the 4th quarter. Quadrant Capital Group LLC now owns 353 shares of the business services provider's stock worth $36,000 after purchasing an additional 250 shares during the period. Headlands Technologies LLC purchased a new position in shares of Euronet Worldwide during the first quarter worth $50,000. Summit Securities Group LLC acquired a new stake in shares of Euronet Worldwide in the second quarter valued at $57,000. Covestor Ltd raised its holdings in shares of Euronet Worldwide by 174.9% in the 1st quarter. Covestor Ltd now owns 547 shares of the business services provider's stock valued at $60,000 after buying an additional 348 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Euronet Worldwide by 69.5% during the 2nd quarter. GAMMA Investing LLC now owns 588 shares of the business services provider's stock worth $61,000 after acquiring an additional 241 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Euronet Worldwide Stock Up 1.2 %

Shares of EEFT traded up $1.22 during mid-day trading on Tuesday, reaching $99.81. The company's stock had a trading volume of 354,186 shares, compared to its average volume of 306,594. The company's 50 day moving average is $101.42 and its 200 day moving average is $106.30. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market cap of $4.58 billion, a PE ratio of 17.55 and a beta of 1.46. Euronet Worldwide, Inc. has a 12-month low of $73.84 and a 12-month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its earnings results on Thursday, July 18th. The business services provider reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.21. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. The business had revenue of $986.20 million during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The company's revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts anticipate that Euronet Worldwide, Inc. will post 7.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EEFT. Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 target price on shares of Euronet Worldwide in a research report on Wednesday, September 4th. Citigroup upped their target price on shares of Euronet Worldwide from $120.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, May 28th. Monness Crespi & Hardt raised their price target on shares of Euronet Worldwide from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered Euronet Worldwide from a "buy" rating to a "hold" rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $124.11.

Insider Transactions at Euronet Worldwide

In other news, CEO Juan Bianchi sold 4,000 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $102.58, for a total value of $410,320.00. Following the completion of the sale, the chief executive officer now directly owns 12,440 shares of the company's stock, valued at $1,276,095.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Thomas A. Mcdonnell purchased 3,206 shares of the firm's stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $93.86 per share, with a total value of $300,915.16. Following the purchase, the director now directly owns 90,000 shares of the company's stock, valued at $8,447,400. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Juan Bianchi sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $102.58, for a total value of $410,320.00. Following the completion of the transaction, the chief executive officer now directly owns 12,440 shares of the company's stock, valued at $1,276,095.20. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.

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.