Trivest Advisors Ltd Purchases Shares of 65,427 Nuvei Co. (NASDAQ:NVEI)

Trivest Advisors Ltd acquired a new position in Nuvei Co. (NASDAQ:NVEI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 65,427 shares of the company's stock, valued at approximately $1,718,000. Nuvei comprises about 0.1% of Trivest Advisors Ltd's holdings, making the stock its 24th largest holding.

Several other large investors have also recently modified their holdings of the company. Psagot Value Holdings Ltd. Israel purchased a new position in Nuvei in the third quarter worth $90,000. Raymond James & Associates purchased a new position in Nuvei during the 4th quarter worth $339,000. Toronto Dominion Bank increased its position in Nuvei by 114.9% during the 3rd quarter. Toronto Dominion Bank now owns 21,227 shares of the company's stock valued at $318,000 after buying an additional 11,351 shares in the last quarter. Citigroup Inc. raised its stake in Nuvei by 2.6% in the third quarter. Citigroup Inc. now owns 22,776 shares of the company's stock valued at $343,000 after buying an additional 576 shares during the last quarter. Finally, Addenda Capital Inc. boosted its holdings in Nuvei by 37.8% in the fourth quarter. Addenda Capital Inc. now owns 27,438 shares of the company's stock worth $721,000 after acquiring an additional 7,530 shares in the last quarter. Institutional investors own 42.45% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVEI. Wolfe Research reissued a "peer perform" rating on shares of Nuvei in a research report on Tuesday, April 2nd. Scotiabank reaffirmed a "sector perform" rating and set a $34.00 target price on shares of Nuvei in a report on Tuesday, April 2nd. Canaccord Genuity Group reduced their price target on shares of Nuvei from $40.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday, April 2nd. William Blair cut Nuvei from an "outperform" rating to a "market perform" rating in a research report on Monday, April 1st. Finally, Wells Fargo & Company reduced their price target on Nuvei from $29.00 to $27.00 and set an "equal weight" rating for the company in a report on Thursday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.06.

Nuvei Stock Down 0.1 %

NASDAQ:NVEI traded down $0.03 during midday trading on Friday, reaching $32.23. The company had a trading volume of 1,447,200 shares, compared to its average volume of 1,152,018. The stock's fifty day simple moving average is $29.99 and its 200-day simple moving average is $25.32. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.60. Nuvei Co. has a 12-month low of $13.32 and a 12-month high of $37.41. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -805.75, a PEG ratio of 1.52 and a beta of 2.59.

Nuvei (NASDAQ:NVEI - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. The business had revenue of $321.52 million during the quarter, compared to the consensus estimate of $319.60 million. Nuvei had a positive return on equity of 6.50% and a negative net margin of 0.39%. On average, sell-side analysts anticipate that Nuvei Co. will post 1.27 earnings per share for the current fiscal year.

Nuvei Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. Nuvei's dividend payout ratio (DPR) is currently -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.

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