Absolute Gestao de Investimentos Ltda. purchased a new position in Nuvei Co. (NASDAQ:NVEI – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 573,723 shares of the company’s stock, valued at approximately $18,577,000. Nuvei comprises approximately 9.6% of Absolute Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 3rd biggest position.
A number of other hedge funds have also recently made changes to their positions in the stock. Pentwater Capital Management LP increased its position in shares of 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 in the last quarter. Highbridge Capital Management LLC purchased a new position in Nuvei in the 2nd quarter worth $24,956,000. Alpine Associates Management Inc. acquired a new stake in Nuvei during the 2nd quarter worth about $23,158,000. Glazer Capital LLC purchased a new stake in Nuvei during the 2nd quarter valued at about $22,910,000. Finally, P Schoenfeld Asset Management LP acquired a new position in shares of Nuvei in the second quarter valued at about $16,485,000. 42.45% of the stock is currently owned by hedge funds and other institutional investors.
Nuvei Stock Performance
Shares of NASDAQ NVEI opened at $33.34 on Wednesday. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -833.50, a PEG ratio of 1.83 and a beta of 2.53. Nuvei Co. has a 12 month low of $13.32 and a 12 month high of $33.78. The company has a 50 day simple moving average of $33.14 and a two-hundred day simple moving average of $32.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.60.
Nuvei Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.20%. Nuvei’s payout ratio is -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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