Pictet Asset Management SA Buys 356 Shares of Nuvei Co. (NASDAQ:NVEI)

Pictet Asset Management SA lifted its stake in shares of Nuvei Co. (NASDAQ:NVEIGet Rating) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,873 shares of the company’s stock after acquiring an additional 356 shares during the quarter. Pictet Asset Management SA’s holdings in Nuvei were worth $753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp bought a new position in Nuvei in the 1st quarter worth approximately $26,000. Advisors Asset Management Inc. bought a new position in Nuvei in the 1st quarter worth approximately $88,000. Harvest Fund Management Co. Ltd bought a new position in Nuvei in the 1st quarter worth approximately $116,000. SG Americas Securities LLC bought a new position in Nuvei in the 1st quarter worth approximately $165,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Nuvei in the 2nd quarter worth approximately $97,000. 29.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on NVEI. Canaccord Genuity Group dropped their price target on Nuvei from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. BMO Capital Markets decreased their price objective on Nuvei from $108.00 to $106.00 and set an “outperform” rating on the stock in a report on Friday, November 4th. Keefe, Bruyette & Woods decreased their price objective on Nuvei from $52.00 to $48.00 in a report on Monday, October 10th. Royal Bank of Canada decreased their price objective on Nuvei from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. Finally, National Bankshares decreased their price objective on Nuvei from $100.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.71.

Nuvei Stock Performance

NASDAQ:NVEI opened at $29.41 on Wednesday. The stock’s fifty day moving average is $29.25 and its 200 day moving average is $35.02. Nuvei Co. has a fifty-two week low of $24.73 and a fifty-two week high of $101.03. The firm has a market capitalization of $4.16 billion and a PE ratio of 73.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.88 and a current ratio of 1.88.

Nuvei Profile

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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.

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Institutional Ownership by Quarter for Nuvei (NASDAQ:NVEI)

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