Short Interest in Euronet Worldwide, Inc. (NASDAQ:EEFT) Decreases By 15.2%

Euronet Worldwide, Inc. (NASDAQ:EEFT) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,510,000 shares, a decline of 15.2% from the March 15th total of 1,780,000 shares. Based on an average trading volume of 429,800 shares, the days-to-cover ratio is presently 3.5 days. Currently, 3.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Euronet Worldwide from $108.00 to $112.00 and gave the company a “market perform” rating in a report on Friday, February 14th. StockNews.com cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Finally, Stephens reissued an “overweight” rating and issued a $130.00 price objective on shares of Euronet Worldwide in a report on Friday, February 14th. Four 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, Euronet Worldwide presently has an average rating of “Moderate Buy” and a consensus target price of $125.86.

Euronet Worldwide Trading Up 0.3 %

NASDAQ:EEFT opened at $94.70 on Monday. The firm has a market capitalization of $4.09 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.78 and a beta of 1.18. The business has a 50 day simple moving average of $101.18 and a 200 day simple moving average of $101.09. 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 has a 12-month low of $85.24 and a 12-month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly 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 return on equity of 27.74% and a net margin of 7.69%. Equities research analysts predict that Euronet Worldwide will post 9.11 EPS for the current year.

Insider Buying and Selling

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the firm’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 transaction of $9,565,550.00. Following the completion of the sale, the chief executive officer now owns 1,418,966 shares in the company, valued at $142,875,686.54. This trade represents a 6.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.20% of the company’s stock.

Hedge Funds Weigh In On Euronet Worldwide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Euronet Worldwide during the first quarter valued at $1,400,000. NorthCrest Asset Manangement LLC increased its stake in Euronet Worldwide by 9.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 5,454 shares of the business services provider’s stock valued at $583,000 after buying an additional 486 shares during the period. Fifth Third Bancorp raised its position in shares of Euronet Worldwide by 6.8% during the 1st quarter. Fifth Third Bancorp now owns 1,929 shares of the business services provider’s stock worth $206,000 after buying an additional 123 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Euronet Worldwide by 46.4% during the 1st quarter. SG Americas Securities LLC now owns 4,721 shares of the business services provider’s stock worth $504,000 after buying an additional 1,496 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Euronet Worldwide by 99.9% in the first quarter. GAMMA Investing LLC now owns 1,907 shares of the business services provider’s stock valued at $204,000 after acquiring an additional 953 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

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.