Euronet Worldwide, Inc. (NASDAQ:EEFT) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 49.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,581 shares of the business services provider’s stock after selling 5,461 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Euronet Worldwide were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd increased its position in Euronet Worldwide by 174.9% during the 1st quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock valued at $60,000 after buying an additional 348 shares in the last quarter. Summit Securities Group LLC acquired a new position in Euronet Worldwide during the 2nd quarter valued at about $57,000. GAMMA Investing LLC increased its position in Euronet Worldwide by 69.5% during the 2nd quarter. GAMMA Investing LLC now owns 588 shares of the business services provider’s stock valued at $61,000 after buying an additional 241 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Euronet Worldwide during the 2nd quarter valued at about $80,000. Finally, Mendota Financial Group LLC acquired a new position in Euronet Worldwide during the 3rd quarter valued at about $100,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EEFT has been the topic of a number of research reports. StockNews.com raised Euronet Worldwide from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Monness Crespi & Hardt raised Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 24th. Needham & Company LLC cut their price objective on Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. DA Davidson reissued a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a report on Tuesday, October 8th. Finally, Oppenheimer initiated coverage on Euronet Worldwide in a report on Tuesday, October 1st. They issued an “outperform” rating and a $121.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Euronet Worldwide presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.38.

Insiders Place Their Bets

In other news, CEO Juan Bianchi sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total value of $410,320.00. Following the transaction, the chief executive officer now owns 12,440 shares in the company, valued at $1,276,095.20. This trade represents a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by company insiders.

Euronet Worldwide Stock Performance

Shares of EEFT stock opened at $101.88 on Friday. The company has a market capitalization of $4.48 billion, a P/E ratio of 14.72 and a beta of 1.46. The business’s 50 day moving average is $99.43 and its two-hundred day moving average is $103.97. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. Euronet Worldwide, Inc. has a 12-month low of $81.99 and a 12-month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 26.86% and a net margin of 8.49%. During the same quarter in the prior year, the business posted $2.53 earnings per share. Analysts expect that Euronet Worldwide, Inc. will post 7.87 EPS for the current fiscal year.

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.