Myriad Asset Management Advisors LLC bought a new position in Nu Holdings Ltd. (NYSE:NU – Free Report) during the fourth quarter, HoldingsChannel.com reports. The fund bought 281,842 shares of the company’s stock, valued at approximately $4,718,000. NU comprises about 1.5% of Myriad Asset Management Advisors LLC’s holdings, making the stock its 17th largest holding.
Other institutional investors have also recently modified their holdings of the company. Maxi Investments CY Ltd boosted its position in shares of NU by 85.5% during the fourth quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company’s stock valued at $13,107,000 after buying an additional 361,000 shares during the last quarter. C WorldWide Group Holding A S boosted its position in shares of NU by 1,045.3% during the fourth quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company’s stock valued at $5,219,000 after buying an additional 284,569 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of NU by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company’s stock valued at $415,401,000 after buying an additional 1,037,438 shares during the last quarter. Genoa Capital Gestora de Recursos Ltda. purchased a new stake in shares of NU during the fourth quarter valued at $3,869,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in shares of NU during the third quarter valued at $2,784,000. 84.02% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. UBS Group dropped their price objective on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Susquehanna cut NU from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Bank of America reissued an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Finally, Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 target price on the stock. in a report on Wednesday, June 3rd. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NU currently has an average rating of “Moderate Buy” and an average target price of $17.08.
Insider Activity
In other news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $14.81, for a total value of $4,443,000.00. Following the transaction, the chief executive officer owned 2,312,338 shares of the company’s stock, valued at $34,245,725.78. This trade represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the transaction, the director directly owned 162,150 shares in the company, valued at $1,984,716. This trade represents a 11.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is owned by company insiders.
NU Stock Down 2.1%
NYSE NU opened at $11.63 on Thursday. The stock’s 50-day moving average price is $13.67 and its 200-day moving average price is $15.45. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week high of $18.98. The company has a market capitalization of $56.45 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 0.47 and a beta of 0.95.
NU (NYSE:NU – Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. On average, equities research analysts predict that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.
NU announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 4th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
NU Profile
Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.
Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.
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