Nuvei Corporation (NVEI) Posted Impressive Results in Q1

Donville Kent Asset Management, an investment management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The economy is facing many challenges at the start of 2023. Among these, inflation is the most influential. The rising interest rates affected the growth assets like small-cap growth stocks, which led the assets to lose their value. The letter discussed how rising interest rates overshadowed business performance and how this is expected to reverse. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Donville Kent Asset Management highlighted stocks like Nuvei Corporation (NASDAQ:NVEI) in the first quarter 2023 investor letter. Based in Montreal, Canada, Nuvei Corporation (NASDAQ:NVEI) is a payment technology solution company. On June 8, 2023, Nuvei Corporation (NASDAQ:NVEI) stock closed at $30.44 per share. One-month return of Nuvei Corporation (NASDAQ:NVEI) was -12.18%, and its shares lost 32.95% of their value over the last 52 weeks. Nuvei Corporation (NASDAQ:NVEI) has a market capitalization of $4.235 billion.

Donville Kent Asset Management made the following comment about Nuvei Corporation (NASDAQ:NVEI) in its Q1 2023 investor letter:

Nuvei Corporation (NASDAQ:NVEI) – Nuvei might have had the most impressive quarter so far. They should have +25% revenue growth in 2023 with +20% net cash margins. Their guidance was 20% above analysts’ estimates. The BMO analyst has a downside scenario of -29% for the stock and an upside scenario of +226% for the stock. This is the type of overall risk reward environment we believe we’re in.”

Nuvei Corporation (NASDAQ:NVEI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Nuvei Corporation (NASDAQ:NVEI) at the end of first quarter 2023 which was 11 in the previous quarter.

We discussed Nuvei Corporation (NASDAQ:NVEI) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.