Mackenzie Financial Corp Grows Stock Holdings in Nuvei Co. (NASDAQ:NVEI)

Mackenzie Financial Corp grew its position in shares of Nuvei Co. (NASDAQ:NVEI - Free Report) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,630 shares of the company's stock after buying an additional 45,219 shares during the quarter. Mackenzie Financial Corp owned approximately 0.20% of Nuvei worth $7,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in NVEI. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Nuvei in the 1st quarter worth approximately $26,000. IFP Advisors Inc bought a new stake in shares of Nuvei during the second quarter valued at approximately $27,000. Tower Research Capital LLC TRC grew its position in Nuvei by 778.3% in the third quarter. Tower Research Capital LLC TRC now owns 2,635 shares of the company's stock valued at $39,000 after acquiring an additional 2,335 shares during the period. Osaic Holdings Inc. grew its position in Nuvei by 77.3% in the second quarter. Osaic Holdings Inc. now owns 1,530 shares of the company's stock valued at $45,000 after acquiring an additional 667 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in Nuvei in the first quarter valued at $88,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

Nuvei Stock Up 0.0 %

NVEI stock traded up $0.01 during mid-day trading on Friday, hitting $32.07. 876,091 shares of the company were exchanged, compared to its average volume of 2,678,573. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $4.47 billion, a P/E ratio of -534.41, a P/E/G ratio of 1.51 and a beta of 2.68. The firm's 50 day simple moving average is $27.93 and its 200 day simple moving average is $23.48. Nuvei Co. has a 1-year low of $13.32 and a 1-year high of $42.50.

Nuvei (NASDAQ:NVEI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. The company had revenue of $321.52 million for the quarter, compared to the consensus estimate of $319.60 million. On average, sell-side analysts predict that Nuvei Co. will post 1.27 EPS for the current fiscal year.

Nuvei Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%. Nuvei's dividend payout ratio (DPR) is presently -333.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVEI. William Blair cut Nuvei from an "outperform" rating to a "market perform" rating in a research report on Monday, April 1st. Royal Bank of Canada upped their price target on Nuvei from $29.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, March 7th. Wells Fargo & Company lowered their price target on Nuvei from $29.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 7th. Scotiabank restated a "sector perform" rating and set a $34.00 target price on shares of Nuvei in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Nuvei from $21.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.94.

Nuvei Profile

Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.