Euronet Worldwide, Inc. (NASDAQ:EEFT) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 776,900 shares, a drop of 12.5% from the July 31st total of 887,700 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 398,200 shares, the short-interest ratio is presently 2.0 days.
NASDAQ:EEFT traded down $0.87 during mid-day trading on Friday, reaching $143.73. 690,914 shares of the stock were exchanged, compared to its average volume of 363,271. The business has a fifty day moving average price of $152.34 and a 200 day moving average price of $151.77. The firm has a market capitalization of $7.90 billion, a PE ratio of 27.07, a PEG ratio of 1.63 and a beta of 1.16. Euronet Worldwide has a 1-year low of $91.78 and a 1-year high of $171.25. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.96.
Euronet Worldwide (NASDAQ:EEFT) last released its earnings results on Tuesday, July 23rd. The business services provider reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.04). The firm had revenue of $691.90 million for the quarter, compared to analyst estimates of $691.90 million. Euronet Worldwide had a return on equity of 24.94% and a net margin of 10.08%. On average, sell-side analysts forecast that Euronet Worldwide will post 6.67 earnings per share for the current year.
EEFT has been the topic of a number of research analyst reports. BidaskClub lowered Euronet Worldwide from a “hold” rating to a “sell” rating in a report on Tuesday. Wolfe Research started coverage on Euronet Worldwide in a report on Wednesday, July 31st. They set an “outperform” rating and a $200.00 target price on the stock. ValuEngine lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Citigroup lifted their target price on Euronet Worldwide from $168.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, DA Davidson lowered Euronet Worldwide from a “buy” rating to a “neutral” rating and set a $161.20 target price on the stock. in a report on Thursday, June 13th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Euronet Worldwide has a consensus rating of “Buy” and an average price target of $165.40.
In other news, CEO Juan Bianchi sold 20,994 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $152.51, for a total transaction of $3,201,794.94. Following the transaction, the chief executive officer now directly owns 20,994 shares of the company’s stock, valued at $3,201,794.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in EEFT. Glen Harbor Capital Management LLC boosted its position in shares of Euronet Worldwide by 39.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 7,280 shares of the business services provider’s stock valued at $1,225,000 after purchasing an additional 2,044 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of Euronet Worldwide by 0.9% in the 2nd quarter. Stephens Investment Management Group LLC now owns 550,611 shares of the business services provider’s stock valued at $92,635,000 after purchasing an additional 5,043 shares during the period. Camden Asset Management L P CA acquired a new position in shares of Euronet Worldwide in the 1st quarter valued at $3,237,000. CIBC Asset Management Inc acquired a new position in shares of Euronet Worldwide in the 1st quarter valued at $257,000. Finally, Highland Capital Management LLC acquired a new position in shares of Euronet Worldwide in the 2nd quarter valued at $3,199,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.
About Euronet Worldwide
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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