Mirae Asset Global Investments Co. Ltd. Sells 20,407 Shares of Nuvei Co. (NASDAQ:NVEI)

Mirae Asset Global Investments Co. Ltd. decreased its position in Nuvei Co. (NASDAQ:NVEIGet Rating) by 13.1% during the first quarter, HoldingsChannel.com reports. The firm owned 135,280 shares of the company’s stock after selling 20,407 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Nuvei were worth $10,181,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NVEI. Capital Group International Inc. CA lifted its stake in Nuvei by 6.3% during the 1st quarter. Capital Group International Inc. CA now owns 645,680 shares of the company’s stock valued at $48,549,000 after acquiring an additional 38,194 shares during the period. Capital International Investors lifted its stake in Nuvei by 102.5% during the 1st quarter. Capital International Investors now owns 7,269,586 shares of the company’s stock valued at $546,607,000 after acquiring an additional 3,679,400 shares during the period. Advisors Asset Management Inc. bought a new position in Nuvei during the 1st quarter valued at about $88,000. Dynamic Technology Lab Private Ltd bought a new position in Nuvei during the 1st quarter valued at about $335,000. Finally, Wellington Management Group LLP lifted its stake in Nuvei by 70.0% during the 1st quarter. Wellington Management Group LLP now owns 4,672,026 shares of the company’s stock valued at $352,221,000 after acquiring an additional 1,923,114 shares during the period. Institutional investors own 29.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVEI. BMO Capital Markets lowered their target price on shares of Nuvei from $121.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. Credit Suisse Group cut shares of Nuvei from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $43.00 in a research note on Friday, July 22nd. Canaccord Genuity Group lowered their price objective on shares of Nuvei from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 11th. National Bankshares lowered their price objective on shares of Nuvei from $100.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Nuvei from $65.00 to $63.00 in a research note on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.38.

Nuvei Trading Down 0.4 %

Nuvei stock opened at $31.64 on Wednesday. The firm has a 50 day moving average of $33.21 and a 200 day moving average of $46.31. The firm has a market capitalization of $4.47 billion and a price-to-earnings ratio of 62.04. Nuvei Co. has a 12-month low of $27.93 and a 12-month high of $140.23. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26.

About Nuvei

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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. It provides a suite of payment solutions to support lifecycle of a transaction across mobile or in-app, online, unattended, and in-store channels.

Further Reading

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Institutional Ownership by Quarter for Nuvei (NASDAQ:NVEI)

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