Euronet Worldwide Inc. (EEFT) Sees Strong Trading Volume
Shares of Euronet Worldwide Inc. (NASDAQ:EEFT) saw unusually-high trading volume on Tuesday . Approximately 395,743 shares were traded during trading, an increase of 59% from the previous session’s volume of 248,957 shares.The stock last traded at $79.69 and had previously closed at $78.52.
EEFT has been the topic of a number of research reports. Monness Crespi & Hardt lowered shares of Euronet Worldwide from a “buy” rating to a “neutral” rating in a report on Friday, June 10th. Wells Fargo & Co. reissued a “buy” rating on shares of Euronet Worldwide in a report on Thursday, May 26th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Euronet Worldwide has an average rating of “Buy” and an average price target of $85.00.
The company’s 50 day moving average price is $77.91 and its 200-day moving average price is $75.48. The stock has a market cap of $4.15 billion, a P/E ratio of 28.98 and a beta of 1.43.
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Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. Euronet Worldwide had a net margin of 8.01% and a return on equity of 22.65%. The company earned $476.90 million during the quarter, compared to analyst estimates of $470.99 million. During the same period last year, the business earned $0.78 earnings per share. Euronet Worldwide’s revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts anticipate that Euronet Worldwide Inc. will post $4.07 earnings per share for the current year.
In related news, VP Jeffrey B. Newman sold 5,772 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $77.80, for a total value of $449,061.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin J. Caponecchi sold 58,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $75.52, for a total transaction of $4,423,432.96. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. bought a new stake in shares of Euronet Worldwide during the first quarter worth $25,939,000. State Street Corp increased its stake in shares of Euronet Worldwide by 2.4% in the first quarter. State Street Corp now owns 956,898 shares of the company’s stock worth $70,918,000 after buying an additional 22,785 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Euronet Worldwide by 3.7% in the first quarter. Geode Capital Management LLC now owns 344,720 shares of the company’s stock worth $25,547,000 after buying an additional 12,295 shares in the last quarter. BlackRock Inc. increased its stake in shares of Euronet Worldwide by 50.0% in the first quarter. BlackRock Inc. now owns 3,464 shares of the company’s stock worth $257,000 after buying an additional 1,154 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its stake in shares of Euronet Worldwide by 13.8% in the first quarter. Kennedy Capital Management Inc. now owns 279,616 shares of the company’s stock worth $20,722,000 after buying an additional 33,952 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.
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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