Bardin Hill Management Partners LP Decreases Stake in Nuvei Co. (NASDAQ:NVEI)

Bardin Hill Management Partners LP cut its position in Nuvei Co. (NASDAQ:NVEI) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,483 shares of the company’s stock after selling 3,005 shares during the period. Nuvei accounts for 0.4% of Bardin Hill Management Partners LP’s investment portfolio, making the stock its 28th largest holding. Bardin Hill Management Partners LP’s holdings in Nuvei were worth $850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NVEI. Vanguard Group Inc. increased its holdings in Nuvei by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,327,272 shares of the company’s stock valued at $73,588,000 after buying an additional 44,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Nuvei by 7.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,956 shares of the company’s stock valued at $420,000 after acquiring an additional 861 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Nuvei during the 2nd quarter worth about $16,190,000. Pentwater Capital Management LP lifted its stake 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 worth $64,760,000 after purchasing an additional 1,850,000 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Nuvei by 4.5% in the second quarter. CIBC Asset Management Inc now owns 81,601 shares of the company’s stock valued at $2,641,000 after purchasing an additional 3,479 shares in the last quarter. 42.45% of the stock is currently owned by institutional investors and hedge funds.

Nuvei Stock Performance

Shares of Nuvei stock opened at $33.99 on Monday. The firm has a market capitalization of $4.82 billion, a P/E ratio of 226.60, a P/E/G ratio of 1.73 and a beta of 2.51. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. Nuvei Co. has a 52 week low of $19.07 and a 52 week high of $34.00. The firm’s 50 day moving average is $33.60 and its two-hundred day moving average is $33.02.

Nuvei Announces Dividend

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

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.