Nuvei Co. (NASDAQ:NVEI) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC grew its stake in shares of Nuvei Co. (NASDAQ:NVEI) by 417.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,850 shares of the company’s stock after purchasing an additional 82,150 shares during the quarter. Gabelli Funds LLC owned 0.07% of Nuvei worth $3,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Nuvei during the second quarter worth about $28,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Nuvei during the second quarter worth about $36,000. Covestor Ltd acquired a new position in shares of Nuvei during the first quarter worth about $58,000. Quantbot Technologies LP acquired a new position in shares of Nuvei during the first quarter worth about $207,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Nuvei during the second quarter worth about $248,000. Institutional investors and hedge funds own 42.45% of the company’s stock.

Nuvei Stock Up 0.1 %

Shares of NASDAQ NVEI opened at $33.34 on Wednesday. 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 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.60. The stock’s 50-day simple moving average is $33.14 and its 200-day simple moving average is $32.05.

Nuvei (NASDAQ:NVEI) last announced its earnings results on Tuesday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Nuvei had a positive return on equity of 6.98% and a negative net margin of 0.87%. The business had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $329.88 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. As a group, analysts forecast that Nuvei Co. will post 1.09 EPS for the current year.

Nuvei Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Tuesday, August 20th. Nuvei’s payout ratio is -1,000.00%.

About Nuvei

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.