Nuvei (NASDAQ:NVEI) Sees Strong Trading Volume

Nuvei Co. (NASDAQ:NVEI) saw unusually-high trading volume on Tuesday . Approximately 868,694 shares changed hands during trading, an increase of 49% from the previous session’s volume of 583,442 shares.The stock last traded at $30.47 and had previously closed at $28.79.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. National Bankshares increased their price objective on Nuvei from $23.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Royal Bank of Canada increased their price target on shares of Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Raymond James raised their price objective on shares of Nuvei from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Wells Fargo & Company lowered their price objective on shares of Nuvei from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, March 7th. Finally, Seaport Res Ptn restated a “buy” rating on shares of Nuvei in a research note on Thursday, November 30th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Nuvei has a consensus rating of “Moderate Buy” and an average price target of $33.24.

Nuvei Price Performance

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 firm’s fifty day simple moving average is $25.36 and its 200-day simple moving average is $21.55.

Nuvei Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, March 18th. Nuvei’s dividend payout ratio is currently -666.56%.

Hedge Funds Weigh In On Nuvei

Hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Nuvei in the 1st quarter worth about $26,000. IFP Advisors Inc purchased a new stake in Nuvei during the 2nd quarter valued at $27,000. Advisors Asset Management Inc. purchased a new stake in Nuvei during the first quarter valued at $88,000. Osaic Holdings Inc. increased its position in Nuvei by 77.3% during the second quarter. Osaic Holdings Inc. now owns 1,530 shares of the company’s stock valued at $45,000 after acquiring an additional 667 shares during the last quarter. Finally, US Bancorp DE increased its position in Nuvei by 981.8% during the fourth quarter. US Bancorp DE now owns 1,666 shares of the company’s stock valued at $44,000 after acquiring an additional 1,512 shares during the last quarter. Hedge funds and other institutional investors own 42.45% of the company’s stock.

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. Its platform enables customers to pay and/or accept payments worldwide regardless of their location, device, or preferred payment method.