RBC Cuts Stake in Euronet Worldwide by Almost a Third

Royal Bank of Canada reduced its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 33.8% during the first quarter, according to a recent filing with the Securities & Exchange Commission.

The institutional investor owned 482,151 shares of the business services provider's stock after selling 246,006 shares during the quarter. Royal Bank of Canada held about 1.27% of Euronet Worldwide worth $32,000,000 as of its most recent filing with the Securities & Exchange Commission.

This is not an isolated instance, as several other institutional investors and hedge funds have recently increased or decreased their stakes in EEFT. Bank of Montreal Can grew its stake in shares of Euronet Worldwide by 933.8% in the fourth quarter, while AQR Capital Management LLC raised its position in shares of Euronet Worldwide by 131.9% in the second quarter.