Intrinsic Edge Capital Management LLC Acquires New Stake in Euronet Worldwide, Inc. (EEFT)
Intrinsic Edge Capital Management LLC acquired a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 44,723 shares of the business services provider’s stock, valued at approximately $3,907,000. Euronet Worldwide comprises 1.2% of Intrinsic Edge Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Intrinsic Edge Capital Management LLC owned approximately 0.09% of Euronet Worldwide as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new position in shares of Euronet Worldwide in the second quarter worth approximately $329,644,000. Macquarie Group Ltd. bought a new position in Euronet Worldwide during the second quarter valued at approximately $302,000. AHL Partners LLP grew its position in Euronet Worldwide by 275.4% during the second quarter. AHL Partners LLP now owns 31,814 shares of the business services provider’s stock valued at $2,780,000 after acquiring an additional 23,340 shares during the last quarter. Numeric Investors LLC bought a new position in Euronet Worldwide during the second quarter valued at approximately $341,000. Finally, Voya Investment Management LLC grew its position in Euronet Worldwide by 5.2% during the second quarter. Voya Investment Management LLC now owns 490,435 shares of the business services provider’s stock valued at $42,850,000 after acquiring an additional 24,083 shares during the last quarter. Institutional investors own 93.90% of the company’s stock.
A number of brokerages have commented on EEFT. BidaskClub upgraded shares of Euronet Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 6th. Zacks Investment Research cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Lake Street Capital reiterated a “buy” rating and set a $99.00 price target (up from $96.00) on shares of Euronet Worldwide in a research report on Thursday, July 27th. Finally, DA Davidson began coverage on shares of Euronet Worldwide in a research report on Wednesday, July 19th. They set a “buy” rating and a $105.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Euronet Worldwide presently has an average rating of “Buy” and an average price target of $101.00.
In other Euronet Worldwide news, CEO Michael J. Brown sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $96.49, for a total value of $5,789,400.00. Following the completion of the sale, the chief executive officer now owns 1,605,886 shares of the company’s stock, valued at $154,951,940.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikos Fountas sold 20,789 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $96.72, for a total transaction of $2,010,712.08. The disclosure for this sale can be found here. Insiders sold 306,574 shares of company stock worth $29,668,269 over the last 90 days. 7.70% of the stock is currently owned by company insiders.
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Euronet Worldwide, Inc. (NASDAQ:EEFT) traded up 0.02% during mid-day trading on Thursday, hitting $95.25. The stock had a trading volume of 24,076 shares. Euronet Worldwide, Inc. has a 12 month low of $70.51 and a 12 month high of $99.53. The stock’s 50-day moving average price is $96.51 and its 200-day moving average price is $89.87. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 30.75 and a beta of 1.34.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.01. Euronet Worldwide had a net margin of 8.23% and a return on equity of 22.32%. The business had revenue of $536.60 million for the quarter, compared to analyst estimates of $513.10 million. During the same period in the prior year, the business posted $0.97 earnings per share. Euronet Worldwide’s revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that Euronet Worldwide, Inc. will post $4.55 earnings per share for the current year.
About Euronet Worldwide
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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