Turtle Creek Asset Management Inc. Has $84.24 Million Stock Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Turtle Creek Asset Management Inc. lessened its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 819,157 shares of the business services provider’s stock after selling 37,449 shares during the quarter. Euronet Worldwide comprises 2.2% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 25th biggest position. Turtle Creek Asset Management Inc. owned 1.86% of Euronet Worldwide worth $84,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of EEFT. Norges Bank bought a new position in Euronet Worldwide in the 4th quarter valued at about $53,072,000. Voss Capital LP increased its stake in Euronet Worldwide by 21.9% in the fourth quarter. Voss Capital LP now owns 630,000 shares of the business services provider’s stock valued at $64,789,000 after acquiring an additional 113,236 shares during the last quarter. Millennium Management LLC raised its position in Euronet Worldwide by 45.7% during the fourth quarter. Millennium Management LLC now owns 302,967 shares of the business services provider’s stock valued at $31,157,000 after purchasing an additional 95,091 shares in the last quarter. First Trust Advisors LP lifted its stake in Euronet Worldwide by 59.0% during the fourth quarter. First Trust Advisors LP now owns 190,612 shares of the business services provider’s stock worth $19,602,000 after purchasing an additional 70,719 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Euronet Worldwide by 57.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 175,027 shares of the business services provider’s stock valued at $18,000,000 after purchasing an additional 63,785 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

EEFT has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of Euronet Worldwide in a research report on Thursday, April 24th. StockNews.com cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Stephens reaffirmed an “overweight” rating and set a $130.00 price target on shares of Euronet Worldwide in a report on Friday, February 14th. Needham & Company LLC lowered their price objective on shares of Euronet Worldwide from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Euronet Worldwide from $112.00 to $110.00 and set a “market perform” rating on the stock in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.57.

Insider Transactions at Euronet Worldwide

In related news, CEO Michael J. Brown sold 95,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was 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 $142,875,686.54. This represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.20% of the stock is owned by corporate insiders.

Euronet Worldwide Trading Up 1.4%

EEFT opened at $111.08 on Friday. 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, Inc. has a fifty-two week low of $85.24 and a fifty-two week high of $117.66. The company’s 50 day moving average price is $101.67 and its two-hundred day moving average price is $101.71. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.78 and a beta of 1.25.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.13. The business had revenue of $915.50 million during the quarter, compared to the consensus estimate of $908.93 million. Euronet Worldwide had a return on equity of 27.74% and a net margin of 7.69%. Euronet Worldwide’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. As a group, research analysts predict that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current year.

Euronet Worldwide Company 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.