Redwood Investment Management LLC Makes New Investment in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Redwood Investment Management LLC bought a new stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 35,867 shares of the business services provider’s stock, valued at approximately $3,689,000. Redwood Investment Management LLC owned about 0.08% of Euronet Worldwide at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Xponance Inc. increased its position in Euronet Worldwide by 3.6% during the 4th quarter. Xponance Inc. now owns 4,790 shares of the business services provider’s stock worth $493,000 after buying an additional 166 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Euronet Worldwide by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,469 shares of the business services provider’s stock valued at $768,000 after acquiring an additional 169 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in Euronet Worldwide by 8.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 2,228 shares of the business services provider’s stock worth $229,000 after acquiring an additional 181 shares during the period. New York State Teachers Retirement System boosted its holdings in Euronet Worldwide by 0.8% in the 4th quarter. New York State Teachers Retirement System now owns 23,277 shares of the business services provider’s stock valued at $2,394,000 after purchasing an additional 196 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Euronet Worldwide by 26.1% in the fourth quarter. Blue Trust Inc. now owns 989 shares of the business services provider’s stock valued at $98,000 after buying an additional 205 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EEFT shares. William Blair reaffirmed an “outperform” rating on shares of Euronet Worldwide in a report on Thursday, April 24th. Stephens reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Euronet Worldwide in a research note on Friday, February 14th. Keefe, Bruyette & Woods reduced their price objective on shares of Euronet Worldwide from $112.00 to $110.00 and set a “market perform” rating on the stock in a research note on Friday, April 25th. Needham & Company LLC dropped their target price on shares of Euronet Worldwide from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, StockNews.com downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.57.

Euronet Worldwide Trading Down 0.1%

Shares of Euronet Worldwide stock opened at $110.14 on Thursday. The firm has a market capitalization of $4.76 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92. The firm’s 50 day moving average is $101.32 and its 200 day moving average is $101.55. Euronet Worldwide, Inc. has a 1 year low of $85.24 and a 1 year high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, meeting analysts’ consensus estimates of $1.13. Euronet Worldwide had a return on equity of 27.74% and a net margin of 7.69%. The company had revenue of $915.50 million during the quarter, compared to analysts’ expectations of $908.93 million. During the same period in the prior year, the company earned $1.28 EPS. Euronet Worldwide’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current fiscal year.

Insider Activity at Euronet Worldwide

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $100.69, for a total value of $9,565,550.00. Following the completion of the transaction, the chief executive officer now directly owns 1,418,966 shares in the company, valued at approximately $142,875,686.54. This represents a 6.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.20% of the stock is owned by company 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. 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.