Short Interest in Euronet Worldwide, Inc. (NASDAQ:EEFT) Declines By 9.0%

Euronet Worldwide, Inc. (NASDAQ:EEFTGet Rating) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,410,000 shares, a drop of 9.0% from the October 15th total of 1,550,000 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average trading volume of 403,100 shares, the short-interest ratio is presently 3.5 days.

Hedge Funds Weigh In On Euronet Worldwide

Several hedge funds have recently made changes to their positions in EEFT. New York State Teachers Retirement System acquired a new position in shares of Euronet Worldwide in the 1st quarter worth approximately $1,138,000. Comerica Bank acquired a new position in shares of Euronet Worldwide in the 1st quarter worth approximately $3,433,000. Daiwa Securities Group Inc. grew its stake in shares of Euronet Worldwide by 5.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,500 shares of the business services provider’s stock worth $845,000 after purchasing an additional 350 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Euronet Worldwide by 585.7% in the 1st quarter. SG Americas Securities LLC now owns 26,791 shares of the business services provider’s stock worth $3,487,000 after purchasing an additional 22,884 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Euronet Worldwide by 153.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 81,216 shares of the business services provider’s stock worth $10,570,000 after purchasing an additional 49,116 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Euronet Worldwide Stock Down 0.9 %

Euronet Worldwide stock opened at $88.60 on Friday. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 28.95 and a beta of 1.36. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average price is $82.67 and its two-hundred day moving average price is $96.72. Euronet Worldwide has a 52 week low of $71.60 and a 52 week high of $149.92.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EEFT shares. DA Davidson dropped their price objective on shares of Euronet Worldwide from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, October 6th. Needham & Company LLC dropped their price objective on shares of Euronet Worldwide from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Keefe, Bruyette & Woods cut shares of Euronet Worldwide from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $124.00 to $90.00 in a report on Sunday, October 9th. Stephens started coverage on shares of Euronet Worldwide in a report on Wednesday, September 14th. They issued an “equal weight” rating and a $95.00 price objective on the stock. Finally, StockNews.com initiated coverage on shares of Euronet Worldwide in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.25.

About Euronet Worldwide

(Get Rating)

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, agents, retailers, merchants, content providers, and individual consumers worldwide. The company's 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 card outsourcing, card issuing, and merchant acquiring services.

Further Reading

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