Euronet Worldwide, Inc. (NASDAQ:EEFT) Short Interest Down 14.8% in June

Euronet Worldwide, Inc. (NASDAQ:EEFT) saw a large decrease in short interest in June. As of June 30th, there was short interest totalling 738,900 shares, a decrease of 14.8% from the May 30th total of 867,600 shares. Based on an average daily trading volume, of 442,500 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.5% of the company’s shares are sold short.

In other Euronet Worldwide news, VP Jeffrey B. Newman sold 5,461 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $161.12, for a total value of $879,876.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Montag & Caldwell LLC grew its holdings in shares of Euronet Worldwide by 4.2% during the 1st quarter. Montag & Caldwell LLC now owns 3,578 shares of the business services provider’s stock worth $510,000 after purchasing an additional 144 shares during the period. Morse Asset Management Inc grew its holdings in shares of Euronet Worldwide by 1.9% during the 1st quarter. Morse Asset Management Inc now owns 11,540 shares of the business services provider’s stock worth $1,645,000 after purchasing an additional 210 shares during the period. Arabesque Asset Management Ltd grew its holdings in shares of Euronet Worldwide by 1.1% during the 1st quarter. Arabesque Asset Management Ltd now owns 26,697 shares of the business services provider’s stock worth $3,807,000 after purchasing an additional 278 shares during the period. Meridian Wealth Management LLC purchased a new position in shares of Euronet Worldwide during the 1st quarter worth $43,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Euronet Worldwide during the 1st quarter worth $45,000. Institutional investors and hedge funds own 99.50% of the company’s stock.

NASDAQ:EEFT traded down $0.95 during trading hours on Friday, hitting $168.41. The company had a trading volume of 274,385 shares, compared to its average volume of 375,919. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $161.93. The firm has a market capitalization of $8.75 billion, a P/E ratio of 31.72, a P/E/G ratio of 1.90 and a beta of 1.16. Euronet Worldwide has a 1 year low of $82.72 and a 1 year high of $171.25.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Monday, April 29th. The business services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $577.50 million during the quarter, compared to analysts’ expectations of $602.73 million. Euronet Worldwide had a return on equity of 24.83% and a net margin of 9.40%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 EPS. On average, equities analysts expect that Euronet Worldwide will post 6.7 earnings per share for the current year.

Several brokerages have issued reports on EEFT. BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. DA Davidson upped their target price on Lululemon Athletica to $180.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Finally, Wells Fargo & Co dropped their target price on MSC Industrial Direct from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $152.74.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) 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 card outsourcing, card issuing, and merchant acquiring services.

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