Point72 Hong Kong Ltd Takes $306,000 Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Point72 Hong Kong Ltd acquired a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 3,084 shares of the business services provider’s stock, valued at approximately $306,000.

Several other large investors have also recently added to or reduced their stakes in EEFT. Maverick Capital Ltd. grew its stake in shares of Euronet Worldwide by 24.4% in the third quarter. Maverick Capital Ltd. now owns 18,549 shares of the business services provider’s stock worth $1,841,000 after purchasing an additional 3,633 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Euronet Worldwide by 45.8% in the third quarter. Wasatch Advisors LP now owns 716,539 shares of the business services provider’s stock worth $71,102,000 after purchasing an additional 224,982 shares during the period. Edgestream Partners L.P. bought a new position in Euronet Worldwide in the 3rd quarter valued at about $1,692,000. Capstone Investment Advisors LLC bought a new stake in shares of Euronet Worldwide during the 3rd quarter worth about $220,000. Finally, Martingale Asset Management L P lifted its stake in shares of Euronet Worldwide by 0.8% in the 3rd quarter. Martingale Asset Management L P now owns 47,788 shares of the business services provider’s stock worth $4,742,000 after acquiring an additional 398 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Euronet Worldwide Stock Performance

Euronet Worldwide stock opened at $105.29 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $4.63 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.95 and a beta of 1.46. Euronet Worldwide, Inc. has a fifty-two week low of $87.85 and a fifty-two week high of $117.66. The firm’s 50 day simple moving average is $100.61 and its 200-day simple moving average is $103.31.

Euronet Worldwide (NASDAQ:EEFT) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.04 billion. Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. During the same period in the previous year, the business earned $2.53 EPS. As a group, equities research analysts predict that Euronet Worldwide, Inc. will post 7.87 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kevin J. Caponecchi sold 52,034 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $106.61, for a total transaction of $5,547,344.74. Following the completion of the sale, the chief executive officer now directly owns 90,288 shares in the company, valued at approximately $9,625,603.68. This trade represents a 36.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Juan Bianchi sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $102.58, for a total transaction of $410,320.00. Following the completion of the transaction, the chief executive officer now owns 12,440 shares in the company, valued at approximately $1,276,095.20. This represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,431 shares of company stock valued at $6,966,057. Corporate insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EEFT. StockNews.com upgraded Euronet Worldwide from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Needham & Company LLC dropped their price target on shares of Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Oppenheimer upped their price target on shares of Euronet Worldwide from $121.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Citigroup cut shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $118.00 to $110.00 in a research note on Friday, October 18th. Finally, Monness Crespi & Hardt raised shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.13.

Euronet Worldwide 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.