Here’s Why You Might Consider Selling Your Euronet Worldwide (EEFT) Position

Polen Capital, an investment management firm, published its “Polen U.S. Small Company Growth” third quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of 1.94% was delivered by the fund for the third quarter of 2021, outperforming its Russell 2000 Growth benchmark that delivered a -5.64% return for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Polen U.S. Small Company Growth, in its Q3 2021 investor letter, mentioned Euronet Worldwide, Inc. (NASDAQ: EEFT) and discussed its stance on the firm. Envestnet, Inc. is a Leawood, Kansas-based credit card service company with a $5.8 billion market capitalization. EEFT delivered a -23.73% return since the beginning of the year, while its 12-month returns are down by -16.73%. The stock closed at $110.53 per share on November 22, 2021.

Here is what Polen U.S. Small Company Growth has to say about Envestnet, Inc.  in its Q3 2021 investor letter:

Euronet Worldwide, a holding since the strategy’s inception, provides transaction processing and cash management services. We exited the position and used the proceeds as a source of funds for new opportunities given that the pandemic has hampered demand for Euronet’s services. While we believe Euronet has been able to navigate challenging circumstances, the ongoing move to cashless payments, its higher market cap, and alternative and compelling investment opportunities led us to exit our position.”


Based on our calculations, Euronet Worldwide, Inc. (NASDAQ: EEFT) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. EEFTwas in 38 hedge fund portfolios at the end of the third quarter of 2021, compared to 40 funds in the previous quarter. Euronet Worldwide, Inc. (NASDAQ: EEFT) delivered a -18.17% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.