Glazer Capital LLC Makes New $22.91 Million Investment in Nuvei Co. (NASDAQ:NVEI)

Glazer Capital LLC bought a new stake in shares of Nuvei Co. (NASDAQ:NVEI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 707,534 shares of the company’s stock, valued at approximately $22,910,000. Nuvei comprises about 1.8% of Glazer Capital LLC’s holdings, making the stock its 17th biggest position. Glazer Capital LLC owned 0.51% of Nuvei at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pentwater Capital Management LP grew its position in Nuvei by 1,233.3% in the 2nd quarter. Pentwater Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $64,760,000 after acquiring an additional 1,850,000 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Nuvei during the second quarter valued at $24,956,000. Alpine Associates Management Inc. bought a new position in shares of Nuvei in the second quarter worth about $23,158,000. P Schoenfeld Asset Management LP purchased a new position in Nuvei in the 2nd quarter worth about $16,485,000. Finally, Picton Mahoney Asset Management purchased a new stake in Nuvei in the 2nd quarter valued at about $16,190,000. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Nuvei Stock Performance

Shares of NASDAQ:NVEI opened at $33.31 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $4.66 billion, a PE ratio of -832.75, a price-to-earnings-growth ratio of 1.74 and a beta of 2.53. The firm’s 50 day simple moving average is $33.12 and its 200-day simple moving average is $31.98. Nuvei Co. has a one year low of $13.32 and a one year high of $33.78.

Nuvei (NASDAQ:NVEI) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). Nuvei had a negative net margin of 0.87% and a positive return on equity of 6.98%. The firm had revenue of $345.50 million during the quarter, compared to the consensus estimate of $329.88 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts predict that Nuvei Co. will post 1.14 EPS for the current year.

Nuvei Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 20th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.20%. Nuvei’s 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.