Meridian Funds, managed by ArrowMark Partners, released its “Meridian Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 11.10% (net) lagging behind the benchmark, the Russell 2500 Growth Index’s 12.59% return. The investment strategy of the Fund emphasizes investing in high-quality companies with recurring revenue and sustainable competitive advantages. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Meridian Growth Fund featured stocks like Euronet Worldwide, Inc. (NASDAQ:EEFT) in the Q4 2023 investor letter. Headquartered in Leawood, Kansas, Euronet Worldwide, Inc. (NASDAQ:EEFT) is a payment and transaction processing and distribution solutions provider. On March 28, 2024, Euronet Worldwide, Inc. (NASDAQ:EEFT) stock closed at $109.93 per share. One-month return of Euronet Worldwide, Inc. (NASDAQ:EEFT) was 0.45%, and its shares gained 0.95% of their value over the last 52 weeks. Euronet Worldwide, Inc. (NASDAQ:EEFT) has a market capitalization of $5.033 billion.
Meridian Growth Fund stated the following regarding Euronet Worldwide, Inc. (NASDAQ:EEFT) in its fourth quarter 2023 investor letter:
“Euronet Worldwide, Inc. (NASDAQ:EEFT) is an industry leader in providing secure electronic financial solutions on a global basis. The company operates one of the largest independent ATM networks in Europe, has the largest payment network for prepaid mobile top-ups and other digital content, and is the second-largest global money transfer company. The stock appreciated during the quarter as the company reported solid earnings and reaffirmed guidance, which helped the stock to recover following softer-than-expected results due to a slowdown in overall travel in the prior period. We were encouraged by the company’s recovery and believe Euronet’s valuation remains at an attractive level. As a result, we added to our position during the quarter.”
A distribution centre operations manager overseeing the delivery of point-of-sale (POS) management solutions.
Euronet Worldwide, Inc. (NASDAQ:EEFT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Euronet Worldwide, Inc. (NASDAQ:EEFT) was held by 37 hedge fund portfolios, compared to 28 in the previous quarter, according to our database.
We discussed Euronet Worldwide, Inc. (NASDAQ:EEFT) in another article and shared Wasatch Small Cap Growth Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
