Nuvei Co. (NASDAQ:NVEI) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in Nuvei Co. (NASDAQ:NVEI – Get Rating) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 368,232 shares of the company’s stock after purchasing an additional 77,032 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.26% of Nuvei worth $9,358,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NVEI. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Nuvei in the first quarter worth about $26,000. Advisors Asset Management Inc. purchased a new stake in shares of Nuvei in the first quarter worth about $88,000. APG Asset Management N.V. purchased a new stake in shares of Nuvei in the first quarter worth about $212,000. Blair William & Co. IL boosted its stake in shares of Nuvei by 8.8% in the first quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock worth $328,000 after buying an additional 350 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nuvei in the first quarter worth about $335,000. 29.56% of the stock is owned by institutional investors and hedge funds.

Nuvei Price Performance

NASDAQ:NVEI opened at $31.22 on Friday. Nuvei Co. has a one year low of $23.71 and a one year high of $53.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $4.33 billion, a PE ratio of 104.07, a P/E/G ratio of 1.22 and a beta of 2.15. The stock has a 50 day moving average price of $39.79 and a 200 day moving average price of $34.01.

Nuvei (NASDAQ:NVEI – Get Rating) last posted its quarterly earnings results on Wednesday, March 8th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). The company had revenue of $220.34 million during the quarter, compared to analyst estimates of $217.92 million. Nuvei had a net margin of 4.96% and a return on equity of 7.91%. Equities research analysts expect that Nuvei Co. will post 1.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NVEI has been the topic of a number of recent analyst reports. Credit Suisse Group upgraded Nuvei from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $37.00 to $45.00 in a research report on Thursday, March 9th. CIBC upgraded Nuvei from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, March 9th. Sumitomo Mitsui Financial Group upgraded Nuvei from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $55.00 in a research report on Tuesday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price target on shares of Nuvei in a research report on Thursday, March 9th. Finally, Keefe, Bruyette & Woods increased their target price on Nuvei from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, April 11th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $58.75.

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.