Seven Eight Capital LP Acquires 6,610 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

Seven Eight Capital LP lifted its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 241.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,342 shares of the business services provider’s stock after purchasing an additional 6,610 shares during the quarter. Seven Eight Capital LP’s holdings in Euronet Worldwide were worth $967,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EEFT. Hsbc Holdings PLC raised its holdings in Euronet Worldwide by 117.1% during the second quarter. Hsbc Holdings PLC now owns 51,292 shares of the business services provider’s stock valued at $5,402,000 after buying an additional 27,664 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Euronet Worldwide by 6.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,350 shares of the business services provider’s stock valued at $243,000 after acquiring an additional 143 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Euronet Worldwide in the 2nd quarter worth approximately $867,000. Renaissance Technologies LLC boosted its position in Euronet Worldwide by 8.2% during the second quarter. Renaissance Technologies LLC now owns 148,600 shares of the business services provider’s stock worth $15,380,000 after purchasing an additional 11,255 shares during the period. Finally, Montag & Caldwell LLC grew its holdings in Euronet Worldwide by 66.3% during the second quarter. Montag & Caldwell LLC now owns 7,000 shares of the business services provider’s stock valued at $724,000 after purchasing an additional 2,790 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Insider Transactions at Euronet Worldwide

In related news, Director Thomas A. Mcdonnell purchased 3,206 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $8,447,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 transaction of $410,320.00. Following the completion of the sale, the chief executive officer now owns 12,440 shares of the company’s stock, valued at $1,276,095.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas A. Mcdonnell bought 3,206 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased 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 approximately $8,447,400. The disclosure for this purchase can be found here. 10.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EEFT shares. Monness Crespi & Hardt upped their price objective on shares of Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Euronet Worldwide in a research report on Wednesday, September 4th. Citigroup boosted their price objective on Euronet Worldwide from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, StockNews.com lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Euronet Worldwide has an average rating of “Moderate Buy” and a consensus price target of $124.11.

Euronet Worldwide Trading Up 0.2 %

Shares of Euronet Worldwide stock opened at $100.66 on Friday. The company’s fifty day moving average price is $101.30 and its two-hundred day moving average price is $106.08. The firm has a market capitalization of $4.62 billion, a PE ratio of 17.72 and a beta of 1.46. Euronet Worldwide, Inc. has a 52-week low of $73.84 and a 52-week high of $117.66. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Thursday, July 18th. The business services provider reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.21. The business had revenue of $986.20 million for the quarter, compared to analysts’ expectations of $1.09 billion. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. On average, analysts expect that Euronet Worldwide, Inc. will post 7.88 EPS for the current year.

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.