National Bank of Canada FI Grows Position in Nuvei Co. (NASDAQ:NVEI)

National Bank of Canada FI boosted its stake in shares of Nuvei Co. (NASDAQ:NVEI - Free Report) by 14.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 627,198 shares of the company's stock after acquiring an additional 77,476 shares during the quarter. National Bank of Canada FI owned 0.45% of Nuvei worth $15,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVEI. Dixon Mitchell Investment Counsel Inc. purchased a new position in Nuvei in the fourth quarter worth about $30,845,000. Wellington Management Group LLP lifted its position in shares of Nuvei by 12.8% during the third quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company's stock valued at $114,248,000 after buying an additional 865,984 shares during the last quarter. Sylebra Capital LLC purchased a new position in Nuvei in the third quarter worth $8,095,000. NewGen Asset Management Ltd purchased a new position in shares of Nuvei in the 4th quarter valued at approximately $11,160,000. Finally, Tyche Wealth Partners LLC purchased a new stake in shares of Nuvei during the fourth quarter valued at $6,830,000. Institutional investors own 42.45% of the company's stock.

Nuvei Trading Up 0.4 %

NASDAQ NVEI traded up $0.13 on Wednesday, hitting $32.48. The company's stock had a trading volume of 969,000 shares, compared to its average volume of 1,105,861. The company's 50-day moving average is $29.63 and its 200 day moving average is $24.95. Nuvei Co. has a 1-year low of $13.32 and a 1-year high of $42.50. The firm has a market cap of $4.53 billion, a PE ratio of -538.91, a PEG ratio of 1.52 and a beta of 2.59. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61.

Nuvei (NASDAQ:NVEI - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $321.52 million during the quarter, compared to the consensus estimate of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. As a group, analysts predict that Nuvei Co. will post 1.27 earnings per share for the current fiscal year.

Nuvei Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.10 per share. The ex-dividend date was Monday, March 18th. This represents a $0.40 annualized dividend and a yield of 1.23%. Nuvei's payout ratio is presently -333.28%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Scotiabank restated a "sector perform" rating and set a $34.00 target price on shares of Nuvei in a research report on Tuesday, April 2nd. National Bankshares lifted their price objective on shares of Nuvei from $23.00 to $30.00 and gave the company an "outperform" rating in a report on Friday, January 26th. Canaccord Genuity Group reduced their price objective on shares of Nuvei from $40.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, April 2nd. Citigroup boosted their price objective on shares of Nuvei from $27.00 to $34.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. Finally, Raymond James lifted their price target on Nuvei from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, March 7th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Nuvei currently has an average rating of "Moderate Buy" and an average target price of $32.06.

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.