Portolan Capital Management buys $21.7 Million stake in Euronet Worldwide (EEFT)

Euronet Worldwide (EEFT) : Portolan Capital Management scooped up 37,342 additional shares in Euronet Worldwide during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 291,318 shares of Euronet Worldwide which is valued at $21.7 Million.Euronet Worldwide makes up approximately 2.98% of Portolan Capital Management’s portfolio.

Other Hedge Funds, Including , Deimos Asset Management sold out all of its stake in EEFT during the most recent quarter. The investment firm sold 12,060 shares of EEFT which is valued $898,591.Ridgeworth Capital Management reduced its stake in EEFT by selling 1,749 shares or 18.32% in the most recent quarter. The Hedge Fund company now holds 7,799 shares of EEFT which is valued at $581,103. Euronet Worldwide makes up approx 0.01% of Ridgeworth Capital Management’s portfolio.Financial Counselors Inc boosted its stake in EEFT in the latest quarter, The investment management firm added 38 additional shares and now holds a total of 2,966 shares of Euronet Worldwide which is valued at $220,997. Euronet Worldwide makes up approx 0.01% of Financial Counselors Inc’s portfolio.Suffolk Capital Management reduced its stake in EEFT by selling 11,152 shares or 35.61% in the most recent quarter. The Hedge Fund company now holds 20,165 shares of EEFT which is valued at $1.5 Million. Euronet Worldwide makes up approx 0.20% of Suffolk Capital Management’s portfolio.Renaissance Group reduced its stake in EEFT by selling 653 shares or 14.81% in the most recent quarter. The Hedge Fund company now holds 3,757 shares of EEFT which is valued at $286,434. Euronet Worldwide makes up approx 0.01% of Renaissance Group’s portfolio.

Euronet Worldwide closed down -0.19 points or -0.24% at $80.14 with 2,43,735 shares getting traded on Wednesday. Post opening the session at $80.51, the shares hit an intraday low of $79.49 and an intraday high of $80.8499 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Euronet Worldwide reported $1.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Oct 21, 2015. Analyst had a consensus of $0.95. The company had revenue of $481.40 million for the quarter, compared to analysts expectations of $479.12 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

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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