Y.D. More Investments Ltd has expanded its holdings in Nayax Ltd. (NASDAQ: NYAX) by 6.6% during the second quarter of 2023. According to Holdings Channel, the investment firm now owns 1,170,927 shares of Nayax after acquiring an additional 72,751 shares during this period. This increase positions Nayax as approximately 4.1% of Y.D. More Investments Ltd’s portfolio, making it their sixth largest holding, valued at around $59,025,000.
Other institutional investors have also adjusted their stakes in Nayax recently. Notably, Bank of America Corp DE raised its investment by an impressive 920.4% in the last quarter, acquiring 1,500 shares worth $44,000 after purchasing an additional 1,353 shares. Meanwhile, ARK Investment Management LLC purchased a new stake valued at $1,906,000 in the first quarter, while Ibex Investors LLC increased its holdings by 19.3% during the same period, bringing its total to 416,015 shares valued at $14,039,000. Swiss National Bank also raised its position by 17.6%, now owning 24,871 shares worth $838,000. In total, institutional investors hold 34.87% of Nayax stock.
Analysts’ Perspectives on Nayax
Nayax has attracted attention from analysts, with varying ratings and price targets. Weiss Ratings issued a “sell (d-)” rating on October 8, while UBS Group increased its price target from $39.00 to $43.00, maintaining a “neutral” rating. Currently, three research analysts have assigned a Buy rating to Nayax, two have indicated Hold, and one has rated it as Sell. According to MarketBeat.com, the stock holds an average rating of “Hold” with an average target price of $46.67.
As for Nayax’s recent performance, shares opened at $41.50 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.59, and a current ratio of 1.68. With a market capitalization of $1.47 billion, Nayax also holds a price-to-earnings ratio of 72.81 and a beta of 0.20. Over the past year, the stock has seen a low of $26.77 and a high of $52.46.
Nayax’s Financial Results
Nayax Ltd. announced its quarterly earnings results on August 13, 2023, reporting earnings per share (EPS) of $0.16, exceeding analysts’ consensus estimate of $0.10 by $0.06. The company recorded a net margin of 6.06% with a return on equity of 5.32%. Revenue for the quarter reached $95.59 million, slightly below the forecasted $99.16 million.
Looking ahead, analysts predict Nayax will post an average earnings per share of -$0.16 for the current year.
Nayax operates as a fintech company, providing a comprehensive payment platform for retailers across various regions, including the United States, Europe, the United Kingdom, Australia, and Israel. Its product offerings include AMIT 3.0, Nayax Core, MoMa, and a suite of other software solutions aimed at enhancing management and consumer engagement for unattended machines and retail environments.
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