Short Interest in Nuvei Co. (NASDAQ:NVEI) Drops By 24.6%

Nuvei Co. (NASDAQ:NVEI) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,550,000 shares, a drop of 24.6% from the August 15th total of 3,380,000 shares. Currently, 3.9% of the company’s shares are sold short. Based on an average trading volume of 677,900 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Trading of Nuvei

Several large investors have recently modified their holdings of NVEI. Headlands Technologies LLC bought a new position in shares of Nuvei in the 2nd quarter worth approximately $28,000. Longfellow Investment Management Co. LLC bought a new position in Nuvei in the 2nd quarter worth $36,000. Covestor Ltd bought a new stake in Nuvei during the first quarter valued at about $58,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Nuvei by 35.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock worth $191,000 after buying an additional 2,095 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Nuvei during the 1st quarter valued at approximately $207,000. Institutional investors own 42.45% of the company’s stock.

Nuvei Price Performance

Shares of NASDAQ NVEI opened at $33.25 on Friday. The stock has a market capitalization of $4.71 billion, a P/E ratio of -832.25, a P/E/G ratio of 1.74 and a beta of 2.53. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average is $33.01 and its 200 day moving average is $31.49. Nuvei has a 1 year low of $13.32 and a 1 year high of $33.78.

Nuvei (NASDAQ:NVEI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). Nuvei had a negative net margin of 0.87% and a positive return on equity of 6.98%. The company had revenue of $345.50 million for the quarter, compared to the consensus estimate of $329.88 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. Nuvei’s revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that Nuvei will post 1.14 earnings per share for the current year.

Nuvei Announces Dividend

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