NewGen Asset Management Ltd Makes New Investment in Nuvei Co. (NASDAQ:NVEI)

NewGen Asset Management Ltd bought a new position in Nuvei Co. (NASDAQ:NVEI - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 425,000 shares of the company's stock, valued at approximately $11,160,000. Nuvei accounts for approximately 5.7% of NewGen Asset Management Ltd's investment portfolio, making the stock its 8th largest holding. NewGen Asset Management Ltd owned 0.31% of Nuvei as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NVEI. Citigroup Inc. grew its position in shares of Nuvei by 2.6% in the 3rd quarter. Citigroup Inc. now owns 22,776 shares of the company's stock worth $343,000 after buying an additional 576 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Nuvei by 0.4% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 550,800 shares of the company's stock valued at $14,464,000 after purchasing an additional 2,400 shares in the last quarter. Scotia Capital Inc. lifted its holdings in shares of Nuvei by 13.2% during the third quarter. Scotia Capital Inc. now owns 33,214 shares of the company's stock valued at $498,000 after purchasing an additional 3,861 shares during the last quarter. Ingalls & Snyder LLC boosted its position in shares of Nuvei by 2.6% in the 4th quarter. Ingalls & Snyder LLC now owns 187,239 shares of the company's stock worth $4,922,000 after purchasing an additional 4,824 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Nuvei by 10.2% during the 3rd quarter. Deutsche Bank AG now owns 54,428 shares of the company's stock valued at $816,000 after buying an additional 5,030 shares in the last quarter. Institutional investors own 42.45% of the company's stock.

Nuvei Stock Performance

Shares of NASDAQ NVEI traded up $0.01 during trading on Friday, hitting $32.34. The company had a trading volume of 771,925 shares, compared to its average volume of 1,291,169. The stock has a 50 day simple moving average of $29.34 and a 200 day simple moving average of $24.71. The firm has a market capitalization of $4.51 billion, a P/E ratio of -538.91, a price-to-earnings-growth ratio of 1.52 and a beta of 2.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.05. Nuvei Co. has a 12 month low of $13.32 and a 12 month high of $42.50.

Nuvei (NASDAQ:NVEI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share for the quarter, topping 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 business had revenue of $321.52 million during the quarter, compared to analyst estimates of $319.60 million. As a group, analysts anticipate that Nuvei Co. will post 1.27 earnings per share for the current year.

Nuvei Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Monday, March 18th. Nuvei's dividend payout ratio (DPR) is presently -333.28%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NVEI shares. Scotiabank reissued a "sector perform" rating and issued a $34.00 target price on shares of Nuvei in a research note on Tuesday, April 2nd. UBS Group reiterated a "neutral" rating and set a $34.00 price target (up previously from $30.00) on shares of Nuvei in a report on Wednesday, April 3rd. Citigroup upped their price objective on Nuvei from $27.00 to $34.00 and gave the company a "neutral" rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group lifted their target price on Nuvei from $21.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, January 11th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Nuvei in a report on Tuesday, April 2nd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Nuvei currently has a consensus rating of "Moderate Buy" and an average price target 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.