Riverhead Capital Management LLC Increases Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)
Riverhead Capital Management LLC increased its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 163.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,800 shares of the business services provider’s stock after acquiring an additional 3,600 shares during the quarter. Riverhead Capital Management LLC’s holdings in Euronet Worldwide were worth $976,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advisor Group Inc. boosted its stake in Euronet Worldwide by 1.9% in the 2nd quarter. Advisor Group Inc. now owns 3,696 shares of the business services provider’s stock worth $623,000 after buying an additional 68 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Euronet Worldwide by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,083 shares of the business services provider’s stock worth $182,000 after buying an additional 93 shares during the last quarter. Pittenger & Anderson Inc. raised its position in shares of Euronet Worldwide by 0.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 43,830 shares of the business services provider’s stock worth $7,374,000 after buying an additional 240 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Euronet Worldwide in the 2nd quarter worth $41,000. Finally, Cim LLC raised its position in shares of Euronet Worldwide by 4.6% in the 2nd quarter. Cim LLC now owns 5,665 shares of the business services provider’s stock worth $953,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.
A number of research firms have issued reports on EEFT. ValuEngine downgraded Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. BidaskClub downgraded Euronet Worldwide from a “hold” rating to a “sell” rating in a report on Tuesday. Wolfe Research began coverage on Euronet Worldwide in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $200.00 price objective on the stock. DA Davidson cut Euronet Worldwide from a “buy” rating to a “neutral” rating and set a $161.20 target price for the company. in a report on Thursday, June 13th. They noted that the move was a valuation call. Finally, Citigroup boosted their target price on Euronet Worldwide from $168.00 to $189.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $165.40.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.04). Euronet Worldwide had a net margin of 10.08% and a return on equity of 24.94%. The company had revenue of $691.90 million during the quarter, compared to analyst estimates of $691.90 million. As a group, equities research analysts anticipate that Euronet Worldwide, Inc. will post 6.67 EPS for the current fiscal year.
In other news, CEO Juan Bianchi sold 20,994 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $152.51, for a total value of $3,201,794.94. Following the completion of the sale, the chief executive officer now owns 20,994 shares of the company’s stock, valued at $3,201,794.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by corporate insiders.
Euronet Worldwide Company Profile
Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) 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 card outsourcing, card issuing, and merchant acquiring services.
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