Norges Bank purchased a new stake in shares of Nuvei Co. (NASDAQ:NVEI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 257,900 shares of the company's stock, valued at approximately $6,776,000. Norges Bank owned approximately 0.19% of Nuvei at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Nuvei during the 4th quarter worth about $30,845,000. Wellington Management Group LLP boosted its position in Nuvei by 12.8% during the third quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company's stock worth $114,248,000 after purchasing an additional 865,984 shares in the last quarter. Sylebra Capital LLC acquired a new stake in Nuvei in the third quarter valued at approximately $8,095,000. NewGen Asset Management Ltd purchased a new stake in shares of Nuvei in the fourth quarter valued at approximately $11,160,000. Finally, Tyche Wealth Partners LLC acquired a new position in shares of Nuvei during the 4th quarter worth approximately $6,830,000. 42.45% of the stock is owned by institutional investors and hedge funds.
Nuvei Trading Down 0.0 %
Shares of Nuvei stock traded down $0.01 during trading hours on Friday, hitting $32.19. The company's stock had a trading volume of 1,066,294 shares, compared to its average volume of 1,156,324. The firm has a fifty day moving average of $32.20 and a 200-day moving average of $27.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -804.75, a P/E/G ratio of 1.57 and a beta of 2.55. Nuvei Co. has a twelve month low of $13.32 and a twelve month high of $37.41.
Nuvei (NASDAQ:NVEI - Get Free Report) last announced its earnings results 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 company had revenue of $335.11 million for the quarter, compared to analysts' expectations of $326.11 million. Nuvei had a positive return on equity of 6.50% and a negative net margin of 0.39%. Research analysts forecast that Nuvei Co. will post 1.22 EPS for the current year.
Nuvei Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. Nuvei's dividend payout ratio is currently -1,000.00%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Scotiabank restated a "sector perform" rating and set a $34.00 price objective on shares of Nuvei in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. cut Nuvei from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $32.00 to $34.00 in a report on Wednesday, May 8th. BMO Capital Markets reduced their target price on Nuvei from $30.00 to $28.00 and set an "outperform" rating for the company in a report on Thursday, March 7th. Citigroup boosted their price target on Nuvei from $27.00 to $34.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Nuvei from $29.00 to $27.00 and set an "equal weight" rating for the company in a report on Thursday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Nuvei presently has an average rating of "Moderate Buy" and an average target price of $32.06.
Check Out Our Latest Analysis on NVEI
Nuvei Company Profile
(Free Report)
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.
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