The Manufacturers Life Insurance Company Sells 878 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

The Manufacturers Life Insurance Company cut its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,274 shares of the business services provider’s stock after selling 878 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Euronet Worldwide worth $3,961,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EEFT. Headlands Technologies LLC bought a new position in shares of Euronet Worldwide in the 1st quarter valued at $50,000. Summit Securities Group LLC bought a new position in Euronet Worldwide in the 2nd quarter valued at about $57,000. Covestor Ltd lifted its position in shares of Euronet Worldwide by 174.9% during the 1st quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock worth $60,000 after buying an additional 348 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 241 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Euronet Worldwide during the 2nd quarter worth approximately $80,000. 91.60% of the stock is currently owned by institutional investors.

Euronet Worldwide Stock Performance

Euronet Worldwide stock opened at $96.07 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average of $100.41 and a 200-day moving average of $105.20. The firm has a market cap of $4.41 billion, a P/E ratio of 16.91 and a beta of 1.46. Euronet Worldwide, Inc. has a 1-year low of $73.84 and a 1-year high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data on Thursday, July 18th. The business services provider reported $2.25 EPS for the quarter, topping 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 analyst estimates of $1.09 billion. During the same period last year, the business posted $1.84 earnings per share. Euronet Worldwide’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Euronet Worldwide, Inc. will post 7.86 EPS for the current year.

Insiders Place Their Bets

In other Euronet Worldwide news, Director Thomas A. Mcdonnell bought 3,206 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $93.86 per share, with a total value of $300,915.16. Following the completion of the purchase, the director now owns 90,000 shares of the company’s stock, valued at approximately $8,447,400. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas A. Mcdonnell purchased 3,206 shares of Euronet Worldwide stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $93.86 per share, with a total value of $300,915.16. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at $8,447,400. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 10.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on EEFT shares. Monness Crespi & Hardt upped their price objective on Euronet Worldwide from $140.00 to $145.00 and gave the company a “neutral” rating in a research note 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 report on Wednesday, September 4th. StockNews.com cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Oppenheimer started coverage on Euronet Worldwide in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $121.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.33.

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.