Nuvei (NASDAQ:NVEI) Hits New 12-Month High – Still a Buy?

Nuvei Co. (NASDAQ:NVEI)’s share price reached a new 52-week high on Monday . The stock traded as high as $33.80 and last traded at $33.80, with a volume of 4300 shares traded. The stock had previously closed at $33.65.

Nuvei Trading Down 0.1 %

The company has a 50-day moving average price of $33.39 and a 200 day moving average price of $32.82. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.60. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of -372.07, a PEG ratio of 1.85 and a beta of 2.51.

Nuvei (NASDAQ:NVEI) last announced its quarterly earnings data 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). The firm had revenue of $345.50 million for the quarter, compared to analyst estimates of $329.88 million. Nuvei had a positive return on equity of 6.98% and a negative net margin of 0.87%. Nuvei’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. As a group, research analysts anticipate that Nuvei Co. will post 1.09 earnings per share for the current fiscal year.

Institutional Trading of Nuvei

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVEI. Wolverine Asset Management LLC grew its holdings in shares of Nuvei by 2.0% during the third quarter. Wolverine Asset Management LLC now owns 67,804 shares of the company’s stock worth $2,261,000 after buying an additional 1,312 shares in the last quarter. Bardin Hill Management Partners LP acquired a new stake in Nuvei during the second quarter worth about $922,000. The Manufacturers Life Insurance Company boosted its stake in Nuvei by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 52,663 shares of the company’s stock valued at $1,703,000 after buying an additional 1,067 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Nuvei by 130.8% in the 2nd quarter. Millennium Management LLC now owns 2,138,217 shares of the company’s stock valued at $69,235,000 after acquiring an additional 1,211,748 shares during the last quarter. Finally, Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Nuvei in the second quarter valued at about $18,577,000. 42.45% of the stock is owned by institutional investors.

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.