Oppenheimer Asset Management Inc. Acquires New Position in Euronet Worldwide, Inc. $EEFT

Oppenheimer Asset Management Inc. bought a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT) in the second quarter, according to its most recent filing with the SEC. The firm bought 11,834 shares of the business services provider’s stock, valued at approximately $866,000.

Several other large investors also recently bought and sold shares of EEFT. Walleye Trading LLC purchased a new stake in Euronet Worldwide during the 2nd quarter worth approximately $1,068,000. Wedge Capital Management L L P NC raised its holdings in shares of Euronet Worldwide by 42.9% in the second quarter. Wedge Capital Management L L P NC now owns 53,878 shares of the business services provider’s stock worth $3,943,000 after buying an additional 16,169 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Euronet Worldwide by 3.8% in the second quarter. Handelsbanken Fonder AB now owns 10,830 shares of the business services provider’s stock worth $793,000 after buying an additional 400 shares during the last quarter. Reinhart Partners LLC. lifted its stake in shares of Euronet Worldwide by 9.2% during the second quarter. Reinhart Partners LLC. now owns 1,627,141 shares of the business services provider’s stock worth $119,091,000 after buying an additional 136,613 shares during the period. Finally, CX Institutional lifted its stake in shares of Euronet Worldwide by 10.7% during the second quarter. CX Institutional now owns 86,453 shares of the business services provider’s stock worth $6,327,000 after buying an additional 8,360 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

EEFT has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price objective on shares of Euronet Worldwide from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings lowered Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, DA Davidson reaffirmed a “buy” rating and set a $102.00 price target on shares of Euronet Worldwide in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $96.00.

Euronet Worldwide Price Performance

Euronet Worldwide stock opened at $73.20 on Monday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.82. Euronet Worldwide, Inc. has a 52 week low of $62.50 and a 52 week high of $98.52. The business’s 50-day moving average price is $73.42 and its 200 day moving average price is $71.49. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.47.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a net margin of 6.63% and a return on equity of 28.60%. During the same period last year, the company earned $2.56 earnings per share. Euronet Worldwide’s revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current year.

Insider Buying and Selling at Euronet Worldwide

In other news, Director Thomas A. Mcdonnell bought 3,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $66.87 per share, with a total value of $200,610.00. Following the acquisition, the director directly owned 100,219 shares in the company, valued at $6,701,644.53. This trade represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.19% of the stock is currently owned by company insiders.

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.