Victory Capital Management Inc. Sells 23,807 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Key Points

• Victory Capital Management Inc. has reduced its stake in NV5 Global, Inc. by 70.2%, now holding 10,108 shares valued at $195,000.
• In contrast, Bank of New York Mellon Corp increased its shareholding by 26.6%, owning nearly 1.91 million shares worth approximately $36.87 million.
• NV5 Global reported quarterly earnings of $0.17 per share, missing estimates, and generated revenues of $123.20 million, significantly below the expected $229.89 million.

Victory Capital Management Inc. lowered its holdings in NV5 Global, Inc. (NASDAQ:NVEE - Free Report) by 70.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,108 shares of the business services provider's stock after selling 23,807 shares during the period. Victory Capital Management Inc.'s holdings in NV5 Global were worth $195,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NVEE. BNP Paribas increased its stake in NV5 Global by 300.0% during the fourth quarter. BNP Paribas now owns 1,400 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,050 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of NV5 Global by 3,320.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,505 shares of the business services provider's stock valued at $28,000 after buying an additional 1,461 shares during the last quarter. GAMMA Investing LLC lifted its holdings in NV5 Global by 9,916.7% in the first quarter. GAMMA Investing LLC now owns 3,005 shares of the business services provider's stock worth $58,000 after acquiring an additional 2,975 shares during the last quarter. Signaturefd LLC bought a new position in shares of NV5 Global during the first quarter valued at approximately $66,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of NV5 Global during the fourth quarter valued at $80,000. Hedge funds and other institutional investors own 75.54% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NVEE. Maxim Group restated a "hold" rating on shares of NV5 Global in a research note on Thursday, July 3rd. Lake Street Capital lowered NV5 Global from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Wall Street Zen cut NV5 Global from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Sidoti upgraded NV5 Global to a "hold" rating in a report on Friday, May 16th. Finally, CJS Securities cut shares of NV5 Global from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 10th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $25.67.

NV5 Global Price Performance

Shares of NV5 Global stock remained flat at $22.56 during trading on Tuesday. The stock has a 50 day moving average of $22.76 and a two-hundred day moving average of $19.85. The firm has a market capitalization of $1.51 billion, a P/E ratio of 45.58, a PEG ratio of 1.42 and a beta of 1.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 1.86. NV5 Global, Inc. has a 52-week low of $14.75 and a 52-week high of $25.96.

NV5 Global Company Profile

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.