Reinhart Partners LLC. Increases Stock Position in Euronet Worldwide, Inc. $EEFT

Reinhart Partners LLC. boosted its position in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 9.2% during the second quarter, Holdings Channel.com reports. The fund owned 1,627,141 shares of the business services provider’s stock after acquiring an additional 136,613 shares during the period. Euronet Worldwide accounts for 2.7% of Reinhart Partners LLC.’s holdings, making the stock its 14th largest holding. Reinhart Partners LLC.’s holdings in Euronet Worldwide were worth $119,091,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CX Institutional raised 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 valued at $6,327,000 after acquiring an additional 8,360 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Euronet Worldwide by 23.6% in the first quarter. Parallel Advisors LLC now owns 775 shares of the business services provider’s stock worth $51,000 after purchasing an additional 148 shares during the last quarter. Turtle Creek Asset Management Inc. grew its stake in shares of Euronet Worldwide by 44.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider’s stock worth $122,588,000 after purchasing an additional 572,194 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Euronet Worldwide by 3.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,406,556 shares of the business services provider’s stock valued at $93,353,000 after purchasing an additional 48,990 shares during the period. Finally, Amundi purchased a new position in Euronet Worldwide during the 1st quarter valued at about $642,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Trading Down 1.4%

Shares of EEFT opened at $72.08 on Friday. Euronet Worldwide, Inc. has a 1-year low of $62.50 and a 1-year high of $98.52. The company has a current ratio of 1.37, a quick ratio of 1.28 and a debt-to-equity ratio of 1.47. The firm’s 50-day moving average price is $73.27 and its 200-day moving average price is $71.57. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.57 and a beta of 0.82.

Euronet Worldwide (NASDAQ:EEFT) last released 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 return on equity of 28.60% and a net margin of 6.63%.During the same quarter in the prior year, the company earned $2.56 earnings per share. Euronet Worldwide’s quarterly revenue was up 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.83 EPS for the current year.

Insider Buying and Selling at Euronet Worldwide

In other news, Director Thomas A. Mcdonnell bought 3,000 shares of Euronet Worldwide stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $66.87 per share, for a total transaction of $200,610.00. Following the acquisition, the director owned 100,219 shares of the company’s stock, valued at approximately $6,701,644.53. The trade was a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on EEFT shares. Needham & Company LLC increased their price objective on Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings raised Euronet Worldwide from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Finally, DA Davidson restated a “buy” rating and set a $102.00 target price on shares of Euronet Worldwide in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Euronet Worldwide has an average rating of “Hold” and an average price target of $96.00.

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.