Nuvei (NASDAQ:NVEI) Announces Earnings Results, Misses Estimates By $0.01 EPS

Nuvei (NASDAQ:NVEI) released its quarterly earnings results on Tuesday. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01), reports. Nuvei had a return on equity of 7.43% and a net margin of 1.75%. The business had revenue of $357.62 million during the quarter, compared to analyst estimates of $340.60 million.

Nuvei Price Performance

NASDAQ:NVEI opened at $33.99 on Thursday. Nuvei has a 12 month low of $19.07 and a 12 month high of $33.99. The stock has a 50 day moving average of $33.43 and a two-hundred day moving average of $32.87. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.60. The firm has a market cap of $4.82 billion, a P/E ratio of 226.60, a price-to-earnings-growth ratio of 1.85 and a beta of 2.51.

Institutional Investors Weigh In On Nuvei

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Nuvei by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 2,327,272 shares of the company’s stock worth $73,588,000 after buying an additional 44,600 shares in the last quarter. Millennium Management LLC grew its position in shares of Nuvei by 130.8% in the second quarter. Millennium Management LLC now owns 2,138,217 shares of the company’s stock valued at $69,235,000 after purchasing an additional 1,211,748 shares in the last quarter. Pentwater Capital Management LP grew its position in shares of Nuvei by 1,233.3% in the second quarter. Pentwater Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $64,760,000 after purchasing an additional 1,850,000 shares in the last quarter. Alpine Associates Management Inc. grew its position in shares of Nuvei by 15.1% in the third quarter. Alpine Associates Management Inc. now owns 823,433 shares of the company’s stock valued at $27,461,000 after purchasing an additional 108,230 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Nuvei in the second quarter valued at approximately $24,956,000. 42.45% of the stock is currently owned by hedge funds and other 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.