Kornitzer Capital Management Inc. KS Has $10.54 Million Position in NV5 Global, Inc. (NASDAQ:NVEE)

Kornitzer Capital Management Inc. KS increased its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 297.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 559,480 shares of the business services provider’s stock after purchasing an additional 418,610 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in NV5 Global were worth $10,541,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. lifted its stake in NV5 Global by 287.7% in the fourth quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 1,864 shares during the last quarter. KBC Group NV lifted its stake in NV5 Global by 527.5% in the fourth quarter. KBC Group NV now owns 4,223 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 3,550 shares during the last quarter. Cetera Trust Company N.A lifted its stake in NV5 Global by 166.8% in the fourth quarter. Cetera Trust Company N.A now owns 5,710 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 3,570 shares during the last quarter. Liberty One Investment Management LLC lifted its stake in NV5 Global by 317.9% in the fourth quarter. Liberty One Investment Management LLC now owns 6,779 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 5,157 shares during the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in NV5 Global in the fourth quarter valued at approximately $196,000. 75.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NVEE. StockNews.com upgraded shares of NV5 Global from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Robert W. Baird reduced their price objective on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, November 8th.

NV5 Global Price Performance

Shares of NV5 Global stock opened at $17.07 on Wednesday. The firm has a fifty day simple moving average of $18.73 and a 200-day simple moving average of $21.50. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. NV5 Global, Inc. has a 1-year low of $17.01 and a 1-year high of $27.77. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 2.73 and a beta of 1.23.

NV5 Global announced that its Board of Directors has initiated a stock buyback plan on Monday, January 6th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, VP Richard Tong sold 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.08, for a total transaction of $401,600.00. Following the transaction, the vice president now owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.40% of the stock is currently owned by insiders.

About NV5 Global

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.