Nuvei (NASDAQ:NVEI) Sees Strong Trading Volume

Shares of Nuvei Co. (NASDAQ:NVEIGet Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,427,503 shares were traded during mid-day trading, an increase of 77% from the previous session’s volume of 805,632 shares.The stock last traded at $32.25 and had previously closed at $32.41.

Analyst Ratings Changes

Several research firms recently commented on NVEI. Wells Fargo & Company reduced their target price on Nuvei from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. Royal Bank of Canada boosted their target price on Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. boosted their target price on Nuvei from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, December 18th. Wolfe Research restated a “peer perform” rating on shares of Nuvei in a research report on Tuesday. Finally, UBS Group restated a “neutral” rating and set a $34.00 target price (up from $30.00) on shares of Nuvei in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.29.

Read Our Latest Research Report on NVEI

Nuvei Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50 day moving average of $26.22 and a two-hundred day moving average of $22.07.

Nuvei (NASDAQ:NVEIGet Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $321.52 million for the quarter, compared to the consensus estimate of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. On average, analysts expect that Nuvei Co. will post 1.27 EPS for the current fiscal year.

Nuvei Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Tuesday, March 19th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $0.40 annualized dividend and a yield of 1.24%. Nuvei’s dividend payout ratio is -666.56%.

Institutional Trading of Nuvei

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Nuvei during the 1st quarter valued at $26,000. IFP Advisors Inc purchased a new stake in Nuvei during the 2nd quarter valued at $27,000. Advisors Asset Management Inc. bought a new position in shares of Nuvei during the 1st quarter valued at $88,000. Osaic Holdings Inc. lifted its holdings in shares of Nuvei by 77.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,530 shares of the company’s stock valued at $45,000 after buying an additional 667 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Nuvei by 981.8% during the 4th quarter. US Bancorp DE now owns 1,666 shares of the company’s stock valued at $44,000 after buying an additional 1,512 shares during the period. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

About Nuvei

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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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