Shellback Capital LP Takes $5.18 Million Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Shellback Capital LP purchased a new position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the business services provider’s stock, valued at approximately $5,175,000.

A number of other hedge funds have also recently added to or reduced their stakes in EEFT. Arizona State Retirement System raised its position in shares of Euronet Worldwide by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 12,176 shares of the business services provider’s stock valued at $1,260,000 after buying an additional 135 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Euronet Worldwide by 6.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,350 shares of the business services provider’s stock valued at $243,000 after purchasing an additional 143 shares in the last quarter. State of Michigan Retirement System lifted its stake in Euronet Worldwide by 1.9% during the first quarter. State of Michigan Retirement System now owns 10,717 shares of the business services provider’s stock worth $1,178,000 after purchasing an additional 200 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Euronet Worldwide by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,588 shares of the business services provider’s stock valued at $164,000 after purchasing an additional 203 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Euronet Worldwide by 0.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,289 shares of the business services provider’s stock valued at $6,075,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EEFT. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Euronet Worldwide in a research report on Wednesday, September 4th. Monness Crespi & Hardt increased their target price on shares of Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, StockNews.com downgraded shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.11.

Insider Buying and Selling at Euronet Worldwide

In related news, Director Thomas A. Mcdonnell purchased 3,206 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $93.86 per share, with a total value of $300,915.16. Following the completion of the purchase, the director now owns 90,000 shares in the company, valued at approximately $8,447,400. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Thomas A. Mcdonnell purchased 3,206 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at $8,447,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Juan Bianchi sold 4,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total transaction of $410,320.00. Following the sale, the chief executive officer now owns 12,440 shares of the company’s stock, valued at $1,276,095.20. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Euronet Worldwide Stock Up 2.4 %

NASDAQ:EEFT opened at $99.02 on Friday. Euronet Worldwide, Inc. has a one year low of $73.84 and a one year high of $117.66. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $4.45 billion, a PE ratio of 17.43 and a beta of 1.46. The firm’s 50 day simple moving average is $100.75 and its 200 day simple moving average is $105.77.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Thursday, July 18th. The business services provider reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.21. The company had revenue of $986.20 million for the quarter, compared to analyst estimates of $1.09 billion. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. Euronet Worldwide’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 earnings per share. On average, research analysts anticipate that Euronet Worldwide, Inc. will post 7.86 earnings per share for the current year.

About Euronet Worldwide

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.