Assenagon Asset Management S.A. Sells 132,515 Shares of Nayax Ltd. $NYAX

Key Points

• Assenagon Asset Management cut its Nayax stake by 48.9%, selling 132,515 shares and retaining 138,556 shares valued at approximately $9 million. Institutional investors collectively own 34.87% of the company.
• Nayax’s second-quarter results exceeded expectations, with revenue rising 28.2% year over year to $122.6 million and adjusted EPS of $0.14 versus the $0.09 consensus estimate. Management reaffirmed its full-year revenue and EBITDA outlook, but reduced free-cash-flow conversion guidance to 5%–10% and reported a $10.1 million net loss.
• Analysts maintain a consensus “Hold” rating with an average price target of $75.76, above the reported $53.87 share price. Recent insider selling and weaker hardware margins remain notable investor concerns.

Assenagon Asset Management S.A. decreased its holdings in Nayax Ltd. (NASDAQ:NYAX - Free Report) by 48.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 138,556 shares of the company's stock after selling 132,515 shares during the period. Assenagon Asset Management S.A. owned approximately 0.38% of Nayax worth $9,003,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NYAX. Bank of America Corp DE lifted its stake in Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock valued at $44,000 after purchasing an additional 1,353 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company's stock valued at $9,966,000 after buying an additional 89,886 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nayax by 19.7% during the second quarter. Geode Capital Management LLC now owns 33,511 shares of the company's stock worth $1,685,000 after buying an additional 5,523 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Nayax by 18.6% during the second quarter. Legal & General Group Plc now owns 14,087 shares of the company's stock worth $711,000 after buying an additional 2,214 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock worth $30,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 34.87% of the company's stock.

Key Nayax News

Here are the key news stories impacting Nayax this week:

• Positive Sentiment: Quarterly results exceeded expectations. Nayax reported Q2 revenue of $122.6 million, up 28.2% year over year and above the $116.75 million consensus estimate. Adjusted EPS was $0.14 versus expectations of $0.09. Recurring revenue increased 24%, transaction value rose 29.1%, and the connected-device base reached 1.55 million. Nayax Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Full-year revenue and EBITDA guidance was reaffirmed. Management continues to forecast 2026 revenue of $510 million to $520 million and adjusted EBITDA of $85 million to $90 million. The company also highlighted expansion in embedded financial services, EV charging, AI tools and international markets, including a pending application for a U.S. bank charter. Nayax Reaffirms 2026 Guidance
• Positive Sentiment: Analyst valuation remains above the current trading level. Brokerages cited an average price target of approximately $78.16, while recent individual targets have been around $75, suggesting potential upside if Nayax delivers on its growth outlook. Nayax Average Price Target
• Neutral Sentiment: Reported short interest was zero shares, making the short-interest update unusable and providing no meaningful indication of short-covering or bearish positioning.
• Negative Sentiment: Cash-flow guidance was sharply reduced. Nayax now expects free-cash-flow conversion of only 5% to 10% of adjusted EBITDA, versus its prior estimate of about 40%, because of accelerated investments in financial services, EV charging and component sourcing. Q2 free cash flow was negative $13.1 million.
• Negative Sentiment: Reported profitability deteriorated. The company posted a $10.1 million net loss versus $11.7 million of profit a year earlier, driven largely by $12.4 million of stock-based compensation and higher interest and foreign-exchange costs. Hardware margin also fell to 28.1% from 35.4%.
• Negative Sentiment: Recent insider activity showed 41 sales and no purchases over six months, which may reinforce investor concerns about valuation and near-term sentiment.

Insider Buying and Selling

In other news, CEO Carly Lisanne Furman sold 382 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $68.08, for a total transaction of $26,006.56. Following the completion of the sale, the chief executive officer directly owned 21,439 shares in the company, valued at $1,459,567.12. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aaron Samuel Greenberg sold 440 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $73.31, for a total transaction of $32,256.40. Following the completion of the transaction, the insider owned 25,915 shares in the company, valued at approximately $1,899,828.65. The trade was a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 47,610 shares of company stock worth $3,481,503.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group reiterated a "neutral" rating and issued a $70.00 price target on shares of Nayax in a research note on Tuesday. Barclays reduced their price objective on Nayax from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Jefferies Financial Group reaffirmed a "buy" rating and issued a $79.80 target price on shares of Nayax in a report on Thursday, May 14th. Keefe, Bruyette & Woods increased their target price on Nayax from $60.00 to $75.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Finally, Oppenheimer raised Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 price target on the stock in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $75.76.

Nayax Stock Performance

Shares of Nayax stock opened at $53.87 on Wednesday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 256.52 and a beta of 0.47. Nayax Ltd. has a twelve month low of $39.17 and a twelve month high of $76.86. The company's fifty day moving average is $66.31 and its 200 day moving average is $62.91. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. Nayax had a return on equity of 14.98% and a net margin of 1.74%.The firm had revenue of $122.59 million for the quarter, compared to the consensus estimate of $116.75 million. Sell-side analysts forecast that Nayax Ltd. will post 0.73 EPS for the current year.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.

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