260,100 Shares in Nuvei Co. (NASDAQ:NVEI) Bought by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC purchased a new position in shares of Nuvei Co. (NASDAQ:NVEI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 260,100 shares of the company’s stock, valued at approximately $6,830,000. Nuvei makes up approximately 1.6% of Tyche Wealth Partners LLC’s holdings, making the stock its 11th biggest holding. Tyche Wealth Partners LLC owned 0.19% of Nuvei at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NVEI. Wellington Management Group LLP boosted its position in Nuvei by 12.8% in the third quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock worth $114,248,000 after purchasing an additional 865,984 shares during the last quarter. Capital International Investors boosted its position in Nuvei by 102.5% in the first quarter. Capital International Investors now owns 7,269,586 shares of the company’s stock worth $546,607,000 after purchasing an additional 3,679,400 shares during the last quarter. Vanguard Group Inc. boosted its position in Nuvei by 2.8% in the third quarter. Vanguard Group Inc. now owns 2,238,298 shares of the company’s stock worth $60,546,000 after purchasing an additional 61,226 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Nuvei by 21.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,194,800 shares of the company’s stock worth $17,922,000 after purchasing an additional 214,800 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Nuvei in the fourth quarter worth $30,845,000. Institutional investors own 42.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVEI. Barclays began coverage on Nuvei in a research report on Wednesday, December 20th. They set an “overweight” rating and a $34.00 price target on the stock. BMO Capital Markets dropped their price target on Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Scotiabank reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Nuvei in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target on Nuvei from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, December 18th. Finally, Royal Bank of Canada upped their price target on Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Nuvei presently has an average rating of “Moderate Buy” and an average price target of $31.94.

Nuvei Price Performance

Shares of Nuvei stock traded down $0.06 during trading on Tuesday, hitting $32.09. 2,169,757 shares of the stock traded hands, compared to its average volume of 1,132,500. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -534.74, a PEG ratio of 1.52 and a beta of 2.68. The firm’s fifty day moving average is $27.44 and its 200-day moving average is $23.06. Nuvei Co. has a 52 week low of $13.32 and a 52 week high of $43.15.

Nuvei (NASDAQ:NVEI) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $321.52 million for the quarter, compared to analyst estimates of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. Research analysts expect that Nuvei Co. will post 1.27 EPS for the current fiscal year.

Nuvei Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, March 18th. Nuvei’s dividend payout ratio (DPR) is presently -666.56%.

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.