CIBC Asset Management Inc Has $1.76 Million Position in Nuvei Co. (NASDAQ:NVEI) (2024)

CIBC Asset Management Inc raised its stake in shares of Nuvei Co. (NASDAQ:NVEI – Free Report) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,577 shares of the company’s stock after purchasing an additional 1,112 shares during the period. CIBC Asset Management Inc’s holdings in Nuvei were worth $1,755,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NVEI. Alberta Investment Management Corp increased its stake in shares of Nuvei by 99.8% in the fourth quarter. Alberta Investment Management Corp now owns 90,300 shares of the company’s stock worth $2,384,000 after purchasing an additional 45,100 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of Nuvei in the fourth quarter valued at approximately $337,000. Trexquant Investment LP grew its stake in shares of Nuvei by 33.8% in the fourth quarter. Trexquant Investment LP now owns 97,200 shares of the company’s stock worth $2,552,000 after acquiring an additional 24,580 shares during the last quarter. Norges Bank bought a new position in Nuvei during the fourth quarter worth $6,776,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Nuvei by 35.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock valued at $191,000 after purchasing an additional 2,095 shares during the last quarter. Institutional investors own 42.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Raymond James upped their price objective on shares of Nuvei from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Wells Fargo & Company lowered their price objective on Nuvei from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. Citigroup raised their target price on Nuvei from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. BMO Capital Markets lowered their price target on shares of Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Canaccord Genuity Group cut their price target on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

View Our Latest Stock Report on NVEI

Nuvei Stock Down 0.0 %

Shares of NASDAQ:NVEI opened at $32.19 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -804.75, a P/E/G ratio of 1.57 and a beta of 2.55. The company has a 50 day moving average of $32.21 and a 200-day moving average of $27.38. Nuvei Co. has a one year low of $13.32 and a one year high of $37.41.

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

Nuvei Announces Dividend

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

About Nuvei

(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.

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