National Bank of Canada FI Boosts Stock Holdings in Nuvei Co. (NASDAQ:NVEI)

National Bank of Canada FI increased its holdings in shares of Nuvei Co. (NASDAQ:NVEI) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 627,198 shares of the company’s stock after purchasing an additional 77,476 shares during the period. National Bank of Canada FI owned 0.45% of Nuvei worth $15,470,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Psagot Value Holdings Ltd. Israel bought a new stake in Nuvei during the 3rd quarter valued at $90,000. Toronto Dominion Bank boosted its position in Nuvei by 114.9% during the third quarter. Toronto Dominion Bank now owns 21,227 shares of the company’s stock valued at $318,000 after purchasing an additional 11,351 shares in the last quarter. Raymond James & Associates purchased a new position in Nuvei in the fourth quarter valued at about $339,000. Citigroup Inc. raised its holdings in Nuvei by 2.6% in the third quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock worth $343,000 after purchasing an additional 576 shares in the last quarter. Finally, Scotia Capital Inc. lifted its position 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 buying an additional 3,861 shares during the last quarter. 42.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NVEI shares. Citigroup lifted 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. Raymond James upped their target price on Nuvei from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. The Goldman Sachs Group raised their price target on Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Scotiabank restated a “sector perform” rating and set a $34.00 price objective on shares of Nuvei in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.06.

Nuvei Trading Down 0.3 %

Nuvei stock opened at $32.35 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61. The firm has a market cap of $4.52 billion, a PE ratio of -539.08, a P/E/G ratio of 1.52 and a beta of 2.59. The stock’s 50 day simple moving average is $29.63 and its two-hundred day simple moving average is $24.95. Nuvei Co. has a 12 month low of $13.32 and a 12 month high of $42.50.

Nuvei (NASDAQ:NVEI) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 earnings per share 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 during the quarter, compared to analysts’ expectations of $319.60 million. Analysts anticipate that Nuvei Co. will post 1.27 earnings per share for the current year.

Nuvei Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 19th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.24%. The ex-dividend date was Monday, March 18th. Nuvei’s payout ratio is currently -333.28%.

Nuvei Company 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.