K2 Principal Fund L.P. Acquires Shares of 11,159 Nuvei Co. (NASDAQ:NVEI)

K2 Principal Fund L.P. acquired a new position in shares of Nuvei Co. (NASDAQ:NVEI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,159 shares of the company’s stock, valued at approximately $361,000.

A number of other institutional investors also recently modified their holdings of NVEI. Norges Bank bought a new position in shares of Nuvei in the fourth quarter worth about $6,776,000. Ontario Teachers Pension Plan Board bought a new stake in Nuvei in the fourth quarter valued at approximately $337,000. Alberta Investment Management Corp raised its stake in Nuvei by 99.8% during the fourth quarter. Alberta Investment Management Corp now owns 90,300 shares of the company’s stock worth $2,384,000 after buying an additional 45,100 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Nuvei by 1.7% in the 4th quarter. CIBC Asset Management Inc now owns 66,577 shares of the company’s stock worth $1,755,000 after acquiring an additional 1,112 shares in the last quarter. Finally, CastleKnight Management LP acquired a new position in Nuvei in the fourth quarter valued at approximately $305,000. Institutional investors own 42.45% of the company’s stock.

Nuvei Stock Performance

Shares of NVEI stock opened at $33.31 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $33.12 and a two-hundred day simple moving average of $31.98. The firm has a market capitalization 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. Nuvei Co. has a 12 month low of $13.32 and a 12 month high of $33.78.

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

Nuvei Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 20th were issued 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 dividend yield of 1.20%. Nuvei’s dividend payout ratio is -1,000.00%.

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.