Nuvei Co. (NASDAQ:NVEI) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. decreased its position in shares of Nuvei Co. (NASDAQ:NVEI) by 14.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 24,603 shares of the company’s stock after selling 4,277 shares during the quarter. Addenda Capital Inc.’s holdings in Nuvei were worth $797,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Nuvei by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,327,272 shares of the company’s stock valued at $73,588,000 after acquiring an additional 44,600 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Nuvei by 15.4% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,347,917 shares of the company’s stock valued at $42,783,000 after acquiring an additional 179,840 shares during the period. Senator Investment Group LP boosted its holdings in shares of Nuvei by 18.2% during the first quarter. Senator Investment Group LP now owns 650,000 shares of the company’s stock valued at $20,553,000 after acquiring an additional 100,000 shares during the period. National Bank of Canada FI boosted its holdings in shares of Nuvei by 14.1% during the fourth quarter. National Bank of Canada FI now owns 627,198 shares of the company’s stock valued at $15,470,000 after acquiring an additional 77,476 shares during the period. Finally, NewGen Asset Management Ltd acquired a new position in shares of Nuvei during the fourth quarter valued at $11,160,000. Institutional investors and hedge funds own 42.45% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. downgraded shares of Nuvei from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $32.00 to $34.00 in a report on Wednesday, May 8th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Nuvei has a consensus rating of “Hold” and an average target price of $32.21.

Nuvei Stock Down 0.2 %

Shares of NVEI traded down $0.08 during trading hours on Wednesday, reaching $33.11. The company’s stock had a trading volume of 883,976 shares, compared to its average volume of 1,034,883. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -827.75, a P/E/G ratio of 1.60 and a beta of 2.53. Nuvei Co. has a 1-year low of $13.32 and a 1-year high of $33.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $32.56 and a two-hundred day moving average of $30.33.

Nuvei (NASDAQ:NVEI) last issued its earnings results on Tuesday, August 6th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The business had revenue of $345.50 million during the quarter, compared to analyst estimates of $329.88 million. Nuvei had a negative net margin of 0.39% and a positive return on equity of 6.50%. Nuvei’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. As a group, research analysts predict that Nuvei Co. will post 1.23 EPS for the current fiscal year.

Nuvei Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Tuesday, August 20th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.21%. Nuvei’s dividend payout ratio is -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.