CIBC Asset Management Inc Reduces Stock Holdings in Nuvei Co. (NASDAQ:NVEI)

CIBC Asset Management Inc lessened its stake in shares of Nuvei Co. (NASDAQ:NVEI) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 78,101 shares of the company’s stock after selling 3,500 shares during the period. CIBC Asset Management Inc owned approximately 0.06% of Nuvei worth $2,605,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Nuvei by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 2,327,272 shares of the company’s stock worth $73,588,000 after acquiring an additional 44,600 shares during the last quarter. Millennium Management LLC raised its position in Nuvei by 130.8% in the 2nd quarter. Millennium Management LLC now owns 2,138,217 shares of the company’s stock worth $69,235,000 after purchasing an additional 1,211,748 shares during the period. Pentwater Capital Management LP lifted its stake in Nuvei by 1,233.3% in 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 during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Nuvei during the second quarter valued at approximately $24,956,000. Finally, Alpine Associates Management Inc. bought a new position in shares of Nuvei during the second quarter valued at approximately $23,158,000. 42.45% of the stock is currently owned by institutional investors.

Nuvei Trading Up 0.0 %

Shares of NASDAQ NVEI opened at $33.99 on Wednesday. The business’s 50 day moving average price is $33.48 and its 200-day moving average price is $32.91. Nuvei Co. has a fifty-two week low of $19.07 and a fifty-two week high of $34.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 226.60, a PEG ratio of 1.73 and a beta of 2.51.

Nuvei Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 26th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. Nuvei’s payout ratio 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.