Euronet Worldwide (NASDAQ:EEFT) Reaches New 52-Week Low – Here’s What Happened

Euronet Worldwide, Inc. (NASDAQ:EEFT)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $85.36 and last traded at $85.64, with a volume of 18655 shares trading hands. The stock had previously closed at $93.18.

Analyst Upgrades and Downgrades

EEFT has been the subject of a number of research reports. Oppenheimer cut their target price on shares of Euronet Worldwide from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Stephens restated an “overweight” rating and set a $130.00 price objective on shares of Euronet Worldwide in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of Euronet Worldwide in a research note on Thursday, December 12th. Keefe, Bruyette & Woods boosted their price target on Euronet Worldwide from $108.00 to $112.00 and gave the company a “market perform” rating in a research note on Friday, February 14th. Finally, StockNews.com cut Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Euronet Worldwide presently has an average rating of “Moderate Buy” and an average target price of $125.86.

Euronet Worldwide Stock Down 2.6 %

The company has a market cap of $3.82 billion, a P/E ratio of 13.51, a PEG ratio of 0.78 and a beta of 1.18. The stock has a 50-day moving average of $101.63 and a 200 day moving average of $101.32. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.25 and a quick ratio of 1.26.

Euronet Worldwide (NASDAQ:EEFT) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.23). Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. Research analysts anticipate that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current year.

Insider Activity at Euronet Worldwide

In other news, CEO Michael J. Brown sold 95,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $100.69, for a total value of $9,565,550.00. Following the sale, the chief executive officer now directly owns 1,418,966 shares in the company, valued at approximately $142,875,686.54. This trade represents a 6.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Euronet Worldwide

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its stake in shares of Euronet Worldwide by 0.6% during the third quarter. HighTower Advisors LLC now owns 25,674 shares of the business services provider’s stock worth $2,540,000 after buying an additional 158 shares during the last quarter. Xponance Inc. increased its holdings in Euronet Worldwide by 3.6% in the 4th quarter. Xponance Inc. now owns 4,790 shares of the business services provider’s stock worth $493,000 after purchasing an additional 166 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Euronet Worldwide by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,469 shares of the business services provider’s stock worth $768,000 after purchasing an additional 169 shares in the last quarter. Vise Technologies Inc. raised its position in Euronet Worldwide by 3.9% in the fourth quarter. Vise Technologies Inc. now owns 4,656 shares of the business services provider’s stock valued at $479,000 after purchasing an additional 174 shares during the last quarter. Finally, Peapack Gladstone Financial Corp grew its holdings in shares of Euronet Worldwide by 8.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 2,228 shares of the business services provider’s stock worth $229,000 after purchasing an additional 181 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

About Euronet Worldwide

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.