Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 2,375 Shares of Nuvei Co. (NASDAQ:NVEI)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Nuvei Co. (NASDAQ:NVEI – Get Rating) by 66.1% in the fourth quarter, Holdings Channel reports. The firm owned 5,967 shares of the company’s stock after acquiring an additional 2,375 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Nuvei were worth $152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Nuvei in the first quarter valued at approximately $26,000. Blair William & Co. IL boosted its position in shares of Nuvei by 8.8% in the first quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock valued at $328,000 after acquiring an additional 350 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Nuvei by 27.6% in the third quarter. Advisors Asset Management Inc. now owns 1,875 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Nuvei by 0.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 164,384 shares of the company’s stock valued at $4,181,000 after acquiring an additional 704 shares during the period. Finally, State Street Corp boosted its position in shares of Nuvei by 3.5% in the third quarter. State Street Corp now owns 45,296 shares of the company’s stock valued at $1,225,000 after acquiring an additional 1,548 shares during the period. Institutional investors own 29.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NVEI shares. Sumitomo Mitsui Financial Group raised Nuvei from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $55.00 in a research report on Tuesday, April 11th. CIBC raised Nuvei from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, March 9th. The Goldman Sachs Group raised their target price on Nuvei from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, April 13th. JPMorgan Chase & Co. initiated coverage on Nuvei in a research report on Monday, March 13th. They issued an “overweight” rating for the company. Finally, Keefe, Bruyette & Woods raised their target price on Nuvei from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 11th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $58.86.

Nuvei Stock Performance

Nuvei stock opened at $42.39 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a fifty day moving average price of $40.30 and a two-hundred day moving average price of $33.72. Nuvei Co. has a 52-week low of $23.71 and a 52-week high of $53.18. The firm has a market capitalization of $5.92 billion, a P/E ratio of 108.69, a P/E/G ratio of 1.52 and a beta of 2.15.

Nuvei (NASDAQ:NVEI – Get Rating) last announced its earnings results on Wednesday, March 8th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). Nuvei had a net margin of 6.73% and a return on equity of 7.91%. The business had revenue of $220.34 million during the quarter, compared to analyst estimates of $217.92 million. As a group, analysts anticipate that Nuvei Co. will post 1.2 EPS for the current fiscal year.

Nuvei 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.