Russell Investments Group Ltd. Buys 1,461,364 Shares of Nu Holdings Ltd. $NU

Russell Investments Group Ltd. boosted its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 15.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,994,156 shares of the company’s stock after buying an additional 1,461,364 shares during the quarter. Russell Investments Group Ltd.’s holdings in NU were worth $184,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of NU. Atom Investors LP acquired a new position in shares of NU during the fourth quarter valued at about $4,303,000. Captrust Financial Advisors lifted its stake in shares of NU by 2.6% in the fourth quarter. Captrust Financial Advisors now owns 189,462 shares of the company’s stock valued at $3,172,000 after buying an additional 4,754 shares during the period. &PARTNERS grew its position in NU by 5.6% during the fourth quarter. &PARTNERS now owns 24,503 shares of the company’s stock worth $411,000 after buying an additional 1,304 shares in the last quarter. Blair William & Co. IL increased its stake in NU by 3.4% during the fourth quarter. Blair William & Co. IL now owns 45,014 shares of the company’s stock valued at $754,000 after acquiring an additional 1,481 shares during the period. Finally, Magnetar Financial LLC bought a new position in NU during the fourth quarter valued at about $300,000. 84.02% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NU news, 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 sale, the director directly owned 162,150 shares in the company, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the 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 transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NU shares. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Scotiabank cut NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a research report on Wednesday, June 3rd. Zacks Research lowered NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Finally, Bank of America reiterated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NU has a consensus rating of “Moderate Buy” and a consensus price target of $17.08.

NU Stock Performance

NYSE NU opened at $12.74 on Wednesday. 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. The stock has a market cap of $61.85 billion, a P/E ratio of 19.60, a PEG ratio of 0.50 and a beta of 0.95. The company’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $15.33.

NU (NYSE:NU) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. As a group, research analysts forecast that Nu Holdings Ltd. will post 0.84 earnings per share for the current fiscal year.

NU announced that its Board of Directors has initiated a share repurchase program on Thursday, June 4th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.