In a recent transaction, Juan Bianchi, CEO of the Money Transfer Division at Euronet Worldwide , Inc. (NASDAQ:EEFT), sold a significant amount of company stock, totaling over $1.6 million. The sale occurred through multiple transactions at varying prices.
On September 5, Bianchi sold 4,000 shares of Euronet Worldwide's common stock at an average price of $102.58 per share. The transactions for this batch of shares were executed within a price range from $102.35 to $103.02. Following this sale, Bianchi still held 12,440 shares of the company's stock.
The next day, on September 6, the executive completed the sale of his remaining 12,440 shares. These were sold at an average price of $100.69 per share, with individual transactions ranging from $100.63 to $100.98 per share. After this transaction, records indicate that Bianchi no longer holds any shares in Euronet Worldwide.
The total value of the shares sold by Bianchi amounted to approximately $1,662,903, reflecting a substantial divestment by the executive from the company.
Investors and followers of Euronet Worldwide will likely take note of this significant sale by a high-ranking company official. The transactions were disclosed in accordance with SEC regulations, providing transparency into the trading activities of the company's insiders.
In other recent news, Euronet Worldwide has been making significant strides in its financial performance and strategic expansion. The company recently reported record-breaking earnings for Q2 2024, with revenues reaching $986 million, an adjusted operating income of $134 million, and adjusted earnings per share (EPS) of $2.25. The firm's EFT segment experienced double-digit growth, while the epay segment and money transfer saw steady increases.
Euronet Worldwide also completed the acquisition of the MEPS ATM network from Payments Network (LON:NETW) Malaysia Sdn Bhd (PayNet), reinforcing its position as the largest non-bank ATM operator in Malaysia. Additionally, the company has expanded its board with the appointment of Sergi Herrero, a seasoned executive with extensive experience in the payment and technology sectors.
On the analyst front, Citi reaffirmed its Buy rating on Euronet Worldwide with a steady price target of $135.00. DA Davidson also increased its price target from $126 to $136, maintaining a Buy rating, while Wolfe Research upgraded the firm's stock rating from Underperform to Peer Perform. These recent developments and positive analyst ratings underscore Euronet Worldwide's potential for continued growth in the global payment network.
InvestingPro Insights
The recent sale of Euronet Worldwide, Inc. (NASDAQ:EEFT) stock by CEO of the Money Transfer Division, Juan Bianchi, has drawn attention to the company's financial metrics and market performance. According to InvestingPro data, Euronet Worldwide boasts a market capitalization of $4.48 billion, with a P/E ratio of 16.44. These figures suggest a company with a solid market presence and a valuation that reflects investor confidence.
InvestingPro Tips indicate that management has been actively buying back shares, which could signal their belief in the company's value and future prospects. Additionally, analysts predict that Euronet Worldwide will be profitable this year, a sentiment that is supported by the company's performance over the last twelve months. It is worth noting that, according to InvestingPro, there are over 5 additional tips available for EEFT, which can provide further insights into the company's financial health and market potential.
Revenue growth also remains a bright spot for Euronet Worldwide, with a 7.99% increase over the last twelve months as of Q2 2024. This indicates a steady upward trajectory in the company's earnings, which could be a positive sign for investors looking for growth opportunities. Despite the stock taking a hit over the last week, with a price total return of -7.53%, the company's one-year price total return stands at an impressive 20.43%, showcasing resilience and a potential for recovery.
Investors considering Euronet Worldwide as part of their portfolio can find additional InvestingPro Tips by visiting https://www.investing.com/pro/EEFT, which may offer further valuable information to guide their investment decisions.
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