Ontario Teachers Pension Plan Board Acquires Shares of 12,818 Nuvei Co. (NASDAQ:NVEI)

Ontario Teachers Pension Plan Board acquired a new stake in Nuvei Co. (NASDAQ:NVEI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,818 shares of the company’s stock, valued at approximately $337,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Nuvei by 35.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock valued at $191,000 after acquiring an additional 2,095 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Nuvei by 114.9% during the third quarter. Toronto Dominion Bank now owns 21,227 shares of the company’s stock worth $318,000 after purchasing an additional 11,351 shares in the last quarter. Raymond James & Associates bought a new position in shares of Nuvei during the fourth quarter worth $339,000. Citigroup Inc. boosted its position in shares of Nuvei by 2.6% during the third quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock worth $343,000 after purchasing an additional 576 shares in the last quarter. Finally, Scotia Capital Inc. boosted its position in shares of Nuvei by 13.2% during the third quarter. Scotia Capital Inc. now owns 33,214 shares of the company’s stock worth $498,000 after purchasing an additional 3,861 shares in the last quarter. 42.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. BMO Capital Markets dropped their price objective 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. JPMorgan Chase & Co. lowered shares of Nuvei from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $32.00 to $34.00 in a report on Wednesday, May 8th. Raymond James raised their price objective on shares of Nuvei from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, UBS Group restated a “neutral” rating and set a $34.00 price objective (up from $30.00) on shares of Nuvei in a report on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Nuvei has an average rating of “Moderate Buy” and a consensus price target of $32.06.

Nuvei Stock Down 0.1 %

Shares of NVEI stock opened at $32.07 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.60. Nuvei Co. has a 1 year low of $13.32 and a 1 year high of $37.41. The firm’s fifty day moving average price is $31.74 and its two-hundred day moving average price is $26.54. The firm has a market capitalization of $4.49 billion, a P/E ratio of -801.75, a PEG ratio of 1.57 and a beta of 2.59.

Nuvei (NASDAQ:NVEI) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.05). The firm 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, equities analysts predict that Nuvei Co. will post 1.22 EPS for the current fiscal year.

Nuvei Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. Nuvei’s dividend payout ratio is presently -1,000.00%.

Nuvei Profile

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.