257,900 Shares in Nuvei Co. (NASDAQ:NVEI) Bought by Norges Bank

Norges Bank purchased a new position in shares of Nuvei Co. (NASDAQ:NVEIFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 257,900 shares of the company’s stock, valued at approximately $6,776,000. Norges Bank owned 0.19% of Nuvei at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVEI. Barclays PLC increased its stake in Nuvei by 2,516.2% during the 3rd quarter. Barclays PLC now owns 265,514 shares of the company’s stock worth $3,983,000 after buying an additional 255,365 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Nuvei during the 3rd quarter worth $642,000. Deutsche Bank AG increased its stake in Nuvei by 10.2% during the 3rd quarter. Deutsche Bank AG now owns 54,428 shares of the company’s stock worth $816,000 after buying an additional 5,030 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in Nuvei during the 3rd quarter worth $1,050,000. Finally, Aigen Investment Management LP grew its holdings in Nuvei by 45.1% during the 3rd quarter. Aigen Investment Management LP now owns 36,946 shares of the company’s stock worth $554,000 after acquiring an additional 11,486 shares in the last quarter. Hedge funds and other institutional investors own 42.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NVEI shares. William Blair lowered shares of Nuvei from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. Royal Bank of Canada raised their price objective on shares of Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. lowered shares of Nuvei from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $32.00 to $34.00 in a report on Wednesday, May 8th. Citigroup raised their price objective on shares of Nuvei from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, Scotiabank reissued a “sector perform” rating and set a $34.00 price objective on shares of Nuvei in a report on Tuesday, April 2nd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.06.

Get Our Latest Research Report on Nuvei

Nuvei Stock Performance

Nuvei stock opened at $32.20 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $32.20 and a two-hundred day moving average price of $27.24. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -805.00, a PEG ratio of 1.56 and a beta of 2.55. Nuvei Co. has a 52-week low of $13.32 and a 52-week high of $37.41.

Nuvei (NASDAQ:NVEIGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). The firm had revenue of $335.11 million for the quarter, compared to analyst estimates of $326.11 million. Nuvei had a negative net margin of 0.39% and a positive return on equity of 6.50%. Sell-side analysts expect that Nuvei Co. will post 1.22 earnings per share for the current year.

Nuvei Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Monday, May 20th. Nuvei’s payout ratio is -1,000.00%.

Nuvei Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Nuvei (NASDAQ:NVEI)

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