Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Nuvei Co. (NASDAQ:NVEI)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Nuvei Co. (NASDAQ:NVEI – Get Rating) by 26.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,232 shares of the company’s stock after acquiring an additional 77,032 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Nuvei were worth $9,358,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Nuvei by 33.7% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 25,570 shares of the company’s stock valued at $649,000 after buying an additional 6,450 shares in the last quarter. Psagot Value Holdings Ltd. Israel lifted its stake in Nuvei by 66.7% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 5,000 shares of the company’s stock valued at $127,000 after buying an additional 2,000 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Nuvei by 56.3% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 81,756 shares of the company’s stock valued at $2,221,000 after buying an additional 29,433 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Nuvei in the 3rd quarter valued at approximately $204,000. Finally, Nicola Wealth Management LTD. lifted its stake in Nuvei by 43.7% in the 4th quarter. Nicola Wealth Management LTD. now owns 111,800 shares of the company’s stock valued at $2,835,000 after buying an additional 34,000 shares in the last quarter. Hedge funds and other institutional investors own 29.56% of the company’s stock.

Nuvei Trading Down 0.8 %

Shares of NVEI opened at $31.22 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $4.33 billion, a P/E ratio of 104.07, a price-to-earnings-growth ratio of 1.22 and a beta of 2.15. The stock’s fifty day simple moving average is $39.79 and its 200 day simple moving average is $34.01. Nuvei Co. has a twelve month low of $23.71 and a twelve month high of $53.18.

Nuvei (NASDAQ:NVEI – Get Rating) last issued its earnings results on Wednesday, March 8th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). Nuvei had a return on equity of 7.91% and a net margin of 4.96%. The firm had revenue of $220.34 million during the quarter, compared to analysts’ expectations of $217.92 million. On average, equities research analysts forecast that Nuvei Co. will post 1.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Nuvei from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, April 13th. Raymond James cut their price target on Nuvei from $49.00 to $47.00 in a report on Thursday, May 11th. CIBC upgraded Nuvei from a “neutral” rating to a “sector outperform” rating in a report on Thursday, March 9th. BMO Capital Markets cut their price target on Nuvei from $112.00 to $93.00 and set an “outperform” rating for the company in a report on Monday, February 27th. Finally, JPMorgan Chase & Co. assumed coverage on Nuvei in a report on Monday, March 13th. They issued an “overweight” rating for the company. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $58.75.

Nuvei Company 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.