The Manufacturers Life Insurance Company Takes Position in Euronet Worldwide, Inc. $EEFT

The Manufacturers Life Insurance Company acquired a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,445 shares of the business services provider’s stock, valued at approximately $1,789,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in EEFT. BlackRock Inc. bought a new stake in Euronet Worldwide during the second quarter valued at approximately $244,726,000. Bank of Montreal Can raised its position in Euronet Worldwide by 933.8% in the fourth quarter. Bank of Montreal Can now owns 1,993,682 shares of the business services provider’s stock worth $151,739,000 after acquiring an additional 1,800,837 shares during the period. AQR Capital Management LLC raised its position in Euronet Worldwide by 131.9% in the second quarter. AQR Capital Management LLC now owns 1,308,267 shares of the business services provider’s stock worth $132,632,000 after acquiring an additional 744,040 shares during the period. Turtle Creek Asset Management Inc. boosted its stake in shares of Euronet Worldwide by 44.9% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider’s stock worth $122,588,000 after acquiring an additional 572,194 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of Euronet Worldwide during the 4th quarter worth $37,523,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EEFT shares. Weiss Ratings downgraded shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Wolfe Research lowered their target price on Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 25th. DA Davidson reissued a “buy” rating and set a $102.00 price target on shares of Euronet Worldwide in a report on Friday, July 10th. Finally, Needham & Company LLC boosted their price target on Euronet Worldwide from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.00.

Euronet Worldwide Price Performance

Shares of NASDAQ:EEFT opened at $73.28 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 1.37. Euronet Worldwide, Inc. has a 1-year low of $62.50 and a 1-year high of $92.45. The company has a market capitalization of $2.79 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.59 and a beta of 0.83. The firm’s 50 day simple moving average is $74.57 and its two-hundred day simple moving average is $71.35.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.Euronet Worldwide’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.56 earnings per share. Research analysts expect that Euronet Worldwide, Inc. will post 9.55 EPS for the current fiscal year.

About Euronet Worldwide

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world’s largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.