Investment management firm Fiera Capital Corp has decreased its stake in Nuvei Co. (NVEI) by 32.0% during the first quarter, as disclosed in its recent filing with the Securities and Exchange Commission. The company now holds 170,000 shares of Nuvei, having sold 80,000 shares during the period. At the end of the quarter, Fiera Capital Corp’s ownership of Nuvei was valued at $7,402,000, representing about 0.12% of the company’s total worth.
Institutional Investors Adjust Their Positions
Besides Fiera Capital Corp, other institutional investors have also made changes to their holdings of NVEI. Advisors Asset Management Inc. and APG Asset Management N.V. purchased positions in Nuvei worth $88,000 and $212,000, respectively, during the same period. Whittier Trust Co. of Nevada Inc. also entered the market with a purchase of Nuvei shares worth about $138,000. Additionally, Whittier Trust Co. increased its stake in Nuvei by 30.4% during the first quarter, now owning 3,226 shares worth $140,000.
Analyst Ratings
A number of brokerages have recently provided their analysis and ratings for NVEI. Royal Bank of Canada lowered its price target for Nuvei from $50.00 to $42.00 and maintained an “outperform” rating for the company. Canaccord Genuity Group reaffirmed a “buy” rating with a price target of $70.00 for Nuvei. Raymond James, on the other hand, lowered its price target from $49.00 to $47.00. In total, twelve research analysts given Nuvei Stock a buy rating, resulting in an average rating of “Strong Buy” and an average price target of $48.41, according to STA Research.
Nuvei’s Stock Performance
NVEI stock opened at $32.27 on Thursday. The company’s fifty-day moving average price is $31.47, while the 200-day moving average price is $34.29. Nuvei Co. has a current ratio of 1.01 and a quick ratio of 1.01. It carries a debt-to-equity ratio of 0.65. The stock has traded in the range of $23.71 to $43.81 over the past 12 months. With a market capitalization of $4.48 billion, Nuvei Co. has a price-to-earnings ratio of 107.57, a P/E/G ratio of 1.09, and a beta of 1.97.
Nuvei’s Quarterly Earnings and Outlook
Nuvei reported earnings of $0.24 per share for the quarter ended May 10th, falling short of the consensus estimate of $0.25 by ($0.01). The company achieved a return on equity of 7.91% and a net margin of 4.96%. Its quarterly revenue was $256.50 million, slightly surpassing analysts’ expectations of $253.56 million. Sell-side analysts predict that Nuvei Co. will post earnings per share of 1.15 for the current year.
