New York State Common Retirement Fund raised its holdings in Nuvei Co. (NASDAQ:NVEI – Get Rating) by 19.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,347 shares of the company’s stock after acquiring an additional 874 shares during the quarter. New York State Common Retirement Fund’s holdings in Nuvei were worth $403,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVEI. Toronto Dominion Bank acquired a new position in Nuvei in the 4th quarter valued at approximately $546,000. American Century Companies Inc. acquired a new stake in shares of Nuvei during the fourth quarter worth $10,641,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Nuvei during the fourth quarter worth $38,835,000. First Trust Advisors LP acquired a new stake in shares of Nuvei during the fourth quarter worth $1,279,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Nuvei during the fourth quarter worth $10,107,000. 30.45% of the stock is currently owned by institutional investors and hedge funds.
Nuvei Stock Down 5.5 %
Nuvei stock opened at $32.38 on Friday. Nuvei Co. has a 1-year low of $29.11 and a 1-year high of $140.23. The firm has a market capitalization of $4.57 billion and a price-to-earnings ratio of 63.49. The firm’s fifty day moving average price is $35.76 and its two-hundred day moving average price is $50.21. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26.
Analysts Set New Price Targets
Several research firms have recently weighed in on NVEI. Bank of America decreased their price objective on shares of Nuvei from $82.00 to $67.00 in a research report on Tuesday, May 10th. Citigroup decreased their price objective on shares of Nuvei from $63.00 to $50.00 in a research report on Wednesday, May 11th. Credit Suisse Group lowered shares of Nuvei from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $43.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. cut their target price on shares of Nuvei from $65.00 to $63.00 in a research note on Wednesday, July 20th. Finally, BMO Capital Markets cut their target price on shares of Nuvei from $121.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. Four analysts have rated the stock with a hold rating and ten 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 $71.38.
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.
Receive News & Ratings for Nuvei Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Nuvei and related companies with MarketBeat.com’s FREE daily email newsletter.