Vanguard Group Inc. Sells 571 Shares of Nuvei Co. (NASDAQ:NVEI)

Vanguard Group Inc. lowered its position in Nuvei Co. (NASDAQ:NVEI) by 0.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,228,200 shares of the company’s stock after selling 571 shares during the period. Vanguard Group Inc.’s holdings in Nuvei were worth $33,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Nuvei during the 1st quarter worth $26,000. IFP Advisors Inc bought a new stake in Nuvei in the second quarter worth $27,000. Tower Research Capital LLC TRC increased its position in Nuvei by 778.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,635 shares of the company’s stock worth $39,000 after buying an additional 2,335 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Nuvei by 77.3% during the second quarter. Osaic Holdings Inc. now owns 1,530 shares of the company’s stock valued at $45,000 after buying an additional 667 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Nuvei during the first quarter valued at about $88,000. Institutional investors own 42.45% of the company’s stock.

Nuvei Trading Down 0.0 %

Shares of NVEI opened at $32.35 on Friday. The stock’s 50-day moving average price is $27.12 and its 200 day moving average price is $22.71. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -539.08, a P/E/G ratio of 1.52 and a beta of 2.68. Nuvei Co. has a 12-month low of $13.32 and a 12-month high of $43.81.

Nuvei (NASDAQ:NVEI) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $321.52 million for the quarter, compared to analysts’ expectations of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. As a group, research analysts predict that Nuvei Co. will post 1.27 earnings per share for the current year.

Nuvei Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Monday, March 18th. Nuvei’s dividend payout ratio is -666.56%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. National Bankshares increased their price objective on Nuvei from $23.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $34.00 price target (up previously from $31.00) on shares of Nuvei in a report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Nuvei from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, December 18th. BMO Capital Markets decreased their price objective on shares of Nuvei from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, Barclays initiated coverage on shares of Nuvei in a report on Wednesday, December 20th. They issued an “overweight” rating and a $34.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.94.

Nuvei Company 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.