Nuvei (NASDAQ:NVEI) Hits New 1-Year High – Time to Buy?

Nuvei Co. (NASDAQ:NVEI) shares reached a new 52-week high on Wednesday . The company traded as high as $33.97 and last traded at $33.97, with a volume of 1267046 shares changing hands. The stock had previously closed at $33.57.

Nuvei Trading Down 0.0 %

The business’s 50 day moving average price is $33.43 and its two-hundred day moving average price is $32.87. 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 company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 226.53, a P/E/G ratio of 1.85 and a beta of 2.51.

Nuvei Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 26th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.18%. Nuvei’s payout ratio is currently 266.67%.

Institutional Investors Weigh In On Nuvei

A number of hedge funds have recently made changes to their positions in NVEI. Pentwater Capital Management LP boosted its stake in shares of 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 purchasing an additional 1,850,000 shares in the last quarter. Millennium Management LLC boosted its position in Nuvei by 130.8% during the 2nd quarter. Millennium Management LLC now owns 2,138,217 shares of the company’s stock worth $69,235,000 after buying an additional 1,211,748 shares during the period. Glazer Capital LLC boosted its position in Nuvei by 129.1% during the 3rd quarter. Glazer Capital LLC now owns 1,621,166 shares of the company’s stock worth $54,066,000 after buying an additional 913,632 shares during the period. Highbridge Capital Management LLC acquired a new stake in Nuvei during the 2nd quarter worth approximately $24,956,000. Finally, Alpine Associates Management Inc. acquired a new stake in Nuvei during the 2nd quarter worth approximately $23,158,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

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.