Commerce Bank cut its stake in shares of Euronet Worldwide Inc. (NASDAQ:EEFT) by 1.5% during the third quarter, Holdings Channel reports. The fund owned 21,852 shares of the company’s stock after selling 330 shares during the period. Commerce Bank’s holdings in Euronet Worldwide were worth $1,788,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in EEFT. BNP Paribas Arbitrage SA increased its position in Euronet Worldwide by 53.7% in the second quarter. BNP Paribas Arbitrage SA now owns 12,922 shares of the company’s stock valued at $894,000 after buying an additional 4,516 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Euronet Worldwide during the second quarter valued at $559,000. Fox Run Management L.L.C. purchased a new position in Euronet Worldwide during the second quarter valued at $214,000. Eagle Boston Investment Management Inc. increased its position in Euronet Worldwide by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 197,326 shares of the company’s stock valued at $13,652,000 after buying an additional 5,204 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Euronet Worldwide by 211.3% in the second quarter. Nordea Investment Management AB now owns 7,263 shares of the company’s stock valued at $503,000 after buying an additional 4,930 shares during the last quarter. 94.26% of the stock is owned by hedge funds and other institutional investors.
Euronet Worldwide Inc. (NASDAQ:EEFT) traded down 2.24% during midday trading on Monday, hitting $75.57. The stock had a trading volume of 376,224 shares. Euronet Worldwide Inc. has a one year low of $52.00 and a one year high of $84.81. The firm has a 50 day moving average price of $79.29 and a 200 day moving average price of $77.60. The stock has a market cap of $3.95 billion, a PE ratio of 23.05 and a beta of 1.40.
Several research firms have weighed in on EEFT. Zacks Investment Research downgraded Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. SunTrust Banks Inc. began coverage on Euronet Worldwide in a research report on Wednesday, October 12th. They set a “buy” rating and a $98.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $88.14.
In other Euronet Worldwide news, VP Jeffrey B. Newman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $78.13, for a total value of $781,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.30% of the stock is owned by company insiders.
About Euronet Worldwide
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.