Myriad Asset Management Advisors LLC Acquires Shares of 281,842 Nu Holdings Ltd. $NU

Myriad Asset Management Advisors LLC acquired a new stake in Nu Holdings Ltd. (NYSE:NU) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 281,842 shares of the company’s stock, valued at approximately $4,718,000. NU comprises approximately 1.5% of Myriad Asset Management Advisors LLC’s investment portfolio, making the stock its 17th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sowell Financial Services LLC lifted its position in NU by 4.8% in the fourth quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock valued at $217,000 after purchasing an additional 599 shares during the last quarter. Parallel Advisors LLC lifted its position in NU by 3.7% in the fourth quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after purchasing an additional 601 shares during the last quarter. MBM Wealth Consultants LLC lifted its position in NU by 1.2% in the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock valued at $842,000 after purchasing an additional 607 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in NU by 1.2% in the fourth quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock valued at $866,000 after purchasing an additional 621 shares during the last quarter. Finally, Euro Pacific Asset Management LLC lifted its position in NU by 0.3% in the fourth quarter. Euro Pacific Asset Management LLC now owns 233,618 shares of the company’s stock valued at $3,642,000 after purchasing an additional 708 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

Insider Buying and Selling at NU

In related news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at $34,245,725.78. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on NU shares. Bank of America reiterated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. UBS Group lowered their price objective on NU from $18.10 to $16.90 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Zacks Research cut NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Itau BBA Securities reissued an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. Finally, Scotiabank cut NU to a “sector perform” rating and set a $13.00 target price on the stock. in a research note on Wednesday, June 3rd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.08.

NU Price Performance

Shares of NU stock opened at $11.63 on Thursday. The stock has a market cap of $56.45 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.47 and a beta of 0.95. The business’s fifty day moving average is $13.67 and its 200 day moving average is $15.45. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. 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 (NYSE:NU) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. Research analysts expect that Nu Holdings Ltd. will post 0.84 EPS for the current fiscal year.

NU announced that its board has approved a share repurchase program on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is 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.