The Manufacturers Life Insurance Company Has $1.70 Million Holdings in Nuvei Co. (NASDAQ:NVEI)

The Manufacturers Life Insurance Company lifted its holdings in Nuvei Co. (NASDAQ:NVEI) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,663 shares of the company’s stock after purchasing an additional 1,067 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Nuvei were worth $1,703,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Millennium Management LLC raised its position in shares of Nuvei by 130.8% in the second quarter. Millennium Management LLC now owns 2,138,217 shares of the company’s stock valued at $69,235,000 after purchasing an additional 1,211,748 shares during the period. Absolute Gestao de Investimentos Ltda. acquired a new stake in Nuvei during the second quarter worth about $18,577,000. Toronto Dominion Bank grew its stake in Nuvei by 30.9% during the second quarter. Toronto Dominion Bank now owns 30,770 shares of the company’s stock worth $996,000 after buying an additional 7,266 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Nuvei by 1,976.0% in the second quarter. Squarepoint Ops LLC now owns 450,483 shares of the company’s stock worth $14,587,000 after acquiring an additional 428,783 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new position in shares of Nuvei in the second quarter worth about $361,000. Institutional investors own 42.45% of the company’s stock.

Nuvei Price Performance

NVEI stock opened at $33.41 on Friday. The firm has a 50-day moving average price of $33.24 and a 200-day moving average price of $32.60. The stock has a market capitalization of $4.68 billion, a P/E ratio of -835.25, a price-to-earnings-growth 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 current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.60.

Nuvei (NASDAQ:NVEI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $345.50 million during the quarter, compared to the consensus estimate of $329.88 million. During the same quarter last year, the business earned $0.19 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Nuvei Co. will post 1.09 EPS for the current fiscal year.

Nuvei Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Tuesday, August 20th. Nuvei’s dividend payout ratio (DPR) is -1,000.00%.

Nuvei 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.