715,203 Shares in Nuvei Co. (NASDAQ:NVEI) Purchased by Alpine Associates Management Inc.

Alpine Associates Management Inc. purchased a new stake in shares of Nuvei Co. (NASDAQ:NVEI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 715,203 shares of the company’s stock, valued at approximately $23,158,000. Nuvei comprises about 1.1% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 26th largest holding. Alpine Associates Management Inc. owned about 0.51% of Nuvei as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Nuvei by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,327,272 shares of the company’s stock worth $73,588,000 after purchasing an additional 44,600 shares during the period. Pentwater Capital Management LP lifted its position in Nuvei by 1,233.3% during the second 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. Dixon Mitchell Investment Counsel Inc. boosted its position in shares of Nuvei by 15.4% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,347,917 shares of the company’s stock worth $42,783,000 after purchasing an additional 179,840 shares in the last quarter. Senator Investment Group LP grew its stake in shares of Nuvei by 18.2% during the first quarter. Senator Investment Group LP now owns 650,000 shares of the company’s stock worth $20,553,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Nuvei during the 2nd quarter valued at approximately $16,190,000. Institutional investors own 42.45% of the company’s stock.

Nuvei Trading Down 0.1 %

Shares of NASDAQ:NVEI opened at $33.25 on Monday. The business has a 50-day moving average price of $33.02 and a 200-day moving average price of $31.63. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -831.25, a PEG ratio of 1.74 and a beta of 2.53. Nuvei Co. has a 52-week low of $13.32 and a 52-week 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.

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

Nuvei Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 20th were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.20%. Nuvei’s dividend payout ratio is presently -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.