Timpani Capital Management Lowers stake in Euronet Worldwide (EEFT)

Euronet Worldwide (EEFT) : Timpani Capital Management reduced its stake in Euronet Worldwide by 1.08% during the most recent quarter end. The investment management company now holds a total of 59,919 shares of Euronet Worldwide which is valued at $4,705,439 after selling 655 shares in Euronet Worldwide , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Euronet Worldwide makes up approximately 1.88% of Timpani Capital Management’s portfolio.

Other Hedge Funds, Including , Pacad Investment Ltd. added EEFT to its portfolio by purchasing 1,300 company shares during the most recent quarter which is valued at $102,089. Euronet Worldwide makes up approx 0.01% of Pacad Investment Ltd.’s portfolio. Dynamic Technology Lab Private Ltd added EEFT to its portfolio by purchasing 8,203 company shares during the most recent quarter which is valued at $644,182. Euronet Worldwide makes up approx 0.16% of Dynamic Technology Lab Private Ltd’s portfolio.Blackrock Investment Management reduced its stake in EEFT by selling 164,138 shares or 87.24% in the most recent quarter. The Hedge Fund company now holds 24,007 shares of EEFT which is valued at $1,885,270.Stephens Investment Management Group boosted its stake in EEFT in the latest quarter, The investment management firm added 2,120 additional shares and now holds a total of 548,943 shares of Euronet Worldwide which is valued at $42,405,847. Euronet Worldwide makes up approx 1.32% of Stephens Investment Management Group’s portfolio.Northwest Investment Counselors boosted its stake in EEFT in the latest quarter, The investment management firm added 294 additional shares and now holds a total of 5,128 shares of Euronet Worldwide which is valued at $371,883. Euronet Worldwide makes up approx 0.20% of Northwest Investment Counselors’s portfolio.

Euronet Worldwide opened for trading at $78.25 and hit $78.74 on the upside on Tuesday, eventually ending the session at $77.95, with a gain of 0.13% or 0.1 points. The heightened volatility saw the trading volume jump to 2,40,145 shares. Company has a market cap of $4,061 M.

On the company’s financial health, Euronet Worldwide reported $0.97 EPS for the quarter, missing the analyst consensus estimate by $ -0.25 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $1.22. The company had revenue of $476.90 million for the quarter, compared to analysts expectations of $525.33 million. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on Euronet Worldwide. Euronet Worldwide was Downgraded by Monness Crespi & Hardt to ” Neutral” on Jun 10, 2016.

Euronet Worldwide Inc. (Euronet) is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions retailers service providers and individual consumers. The Company operates in three segments: The EFT Processing Segment which provides electronic payment solutions consisting of ATM cash withdrawal and deposit services ATM network participation outsourced ATM and POS management solutions credit and debit card outsourcing and card issuing and merchant acquiring services; The epay Segment which provides electronic distribution and processing of prepaid mobile airtime and other electronic payment products and collection services for various payment products cards and services and the Money Transfer Segment which provides global consumer-to-consumer money transfer services under the brand names Ria and AFEX Money Express and global account-to-account money transfer services under the brand name HiFX.

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