Russell Investments Group Ltd. Makes New $1.04 Million Investment in Nuvei Co. (NASDAQ:NVEI)

Russell Investments Group Ltd. acquired a new position in shares of Nuvei Co. (NASDAQ:NVEI – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,832 shares of the company’s stock, valued at approximately $1,037,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Nuvei during the first quarter worth about $26,000. Blair William & Co. IL lifted its stake in shares of Nuvei by 8.8% during the first quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock worth $328,000 after purchasing an additional 350 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Nuvei by 27.6% during the third quarter. Advisors Asset Management Inc. now owns 1,875 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake 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 worth $4,181,000 after acquiring an additional 704 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Nuvei by 3.5% in the third quarter. State Street Corp now owns 45,296 shares of the company’s stock worth $1,225,000 after acquiring an additional 1,548 shares in the last quarter. Institutional investors and hedge funds own 29.56% of the company’s stock.

Nuvei Stock Down 0.8 %

NASDAQ:NVEI opened at $31.22 on Friday. The firm has a market capitalization of $4.33 billion, a PE ratio of 104.07, a price-to-earnings-growth ratio of 1.26 and a beta of 2.15. The stock has a 50 day moving average of $39.79 and a 200-day moving average of $34.01. Nuvei Co. has a 52 week low of $23.71 and a 52 week high of $53.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

Nuvei (NASDAQ:NVEI – Get Rating) last posted its earnings results on Wednesday, March 8th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). The company had revenue of $220.34 million for the quarter, compared to the consensus estimate of $217.92 million. Nuvei had a net margin of 4.96% and a return on equity of 7.91%. Analysts predict that Nuvei Co. will post 1.15 EPS for the current year.

Analysts Set New Price Targets

NVEI has been the topic of several recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 price target on shares of Nuvei in a research note on Wednesday, April 5th. CIBC upgraded Nuvei from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, March 9th. JPMorgan Chase & Co. initiated coverage on Nuvei in a research note on Monday, March 13th. They issued an “overweight” rating on the stock. Raymond James cut their price target on Nuvei from $49.00 to $47.00 in a research note on Thursday, May 11th. Finally, Credit Suisse Group upgraded Nuvei from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $37.00 to $45.00 in a research note on Thursday, March 9th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $58.75.

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.