AtonRa Partners Sells 1,157 Shares of Nuvei Co. (NASDAQ:NVEI)

AtonRa Partners decreased its stake in shares of Nuvei Co. (NASDAQ:NVEI) by 17.0% in the 4th quarter, Holdings Channel reports. The fund owned 5,633 shares of the company’s stock after selling 1,157 shares during the quarter. AtonRa Partners’ holdings in Nuvei were worth $148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. acquired a new position in Nuvei in the 4th quarter worth $30,845,000. Wellington Management Group LLP lifted its holdings in shares of Nuvei by 12.8% in the third quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock valued at $114,248,000 after purchasing an additional 865,984 shares in the last quarter. Sylebra Capital LLC bought a new stake in shares of Nuvei in the third quarter valued at about $8,095,000. Tyche Wealth Partners LLC acquired a new position in shares of Nuvei during the fourth quarter worth about $6,830,000. Finally, Barclays PLC grew its holdings in shares of Nuvei by 2,516.2% during the third quarter. Barclays PLC now owns 265,514 shares of the company’s stock worth $3,983,000 after buying an additional 255,365 shares in the last quarter. 42.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NVEI shares. BMO Capital Markets cut their target price on Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. William Blair cut 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 target price 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. The Goldman Sachs Group boosted their price target on shares of Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, Scotiabank restated a “sector perform” rating and issued a $34.00 price objective on shares of Nuvei in a report on Tuesday, April 2nd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Nuvei has an average rating of “Moderate Buy” and a consensus target price of $31.94.

Nuvei Stock Performance

Shares of NVEI stock traded down $0.08 during trading on Tuesday, reaching $32.22. 189,987 shares of the company’s stock were exchanged, compared to its average volume of 1,097,502. Nuvei Co. has a twelve month low of $13.32 and a twelve month high of $42.50. The firm’s fifty day moving average price is $28.70 and its 200-day moving average price is $24.24. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.50 billion, a PE ratio of -538.24, a PEG ratio of 1.52 and a beta of 2.68.

Nuvei (NASDAQ:NVEI) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $321.52 million for the quarter, compared to the consensus estimate of $319.60 million. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. As a group, sell-side analysts anticipate that Nuvei Co. will post 1.27 EPS for the current year.

Nuvei Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. Nuvei’s dividend payout ratio (DPR) 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.