Verition Fund Management LLC Has $6.39 Million Stock Position in Nuvei Co. (NASDAQ:NVEI)

Verition Fund Management LLC boosted its holdings in shares of Nuvei Co. (NASDAQ:NVEI) by 246.3% in the third quarter, HoldingsChannel reports. The fund owned 191,630 shares of the company’s stock after buying an additional 136,291 shares during the quarter. Verition Fund Management LLC’s holdings in Nuvei were worth $6,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Nuvei by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,327,272 shares of the company’s stock valued at $73,588,000 after purchasing an additional 44,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nuvei by 7.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,956 shares of the company’s stock valued at $420,000 after acquiring an additional 861 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Nuvei in the second quarter worth $16,190,000. Pentwater Capital Management LP raised its holdings 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 acquiring an additional 1,850,000 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Nuvei by 4.5% during the second quarter. CIBC Asset Management Inc now owns 81,601 shares of the company’s stock valued at $2,641,000 after purchasing an additional 3,479 shares during the last quarter. Hedge funds and other institutional investors own 42.45% of the company’s stock.

Nuvei Stock Performance

Shares of NASDAQ NVEI opened at $33.99 on Monday. Nuvei Co. has a one year low of $19.07 and a one year high of $34.00. The business’s 50-day moving average price is $33.60 and its two-hundred day moving average price is $33.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 1.03. The company has a market capitalization of $4.82 billion, a P/E ratio of 226.60, a price-to-earnings-growth ratio of 1.73 and a beta of 2.51.

Nuvei Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. Nuvei’s dividend payout ratio (DPR) is 266.67%.

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.