Investment Management Associates Inc. ADV Increases Stock Position in Nu Holdings Ltd. $NU

Investment Management Associates Inc. ADV boosted its position in Nu Holdings Ltd. (NYSE:NU) by 15.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,073,617 shares of the company’s stock after acquiring an additional 144,894 shares during the quarter. NU makes up 3.7% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 11th biggest position. Investment Management Associates Inc. ADV’s holdings in NU were worth $15,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maxi Investments CY Ltd grew its stake in NU by 85.5% during the 4th quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company’s stock valued at $13,107,000 after purchasing an additional 361,000 shares in the last quarter. C WorldWide Group Holding A S boosted its stake in shares of NU by 1,045.3% during the 4th 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 stake in shares of NU by 4.4% during the 4th 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. acquired a new stake in NU in the fourth quarter valued at $3,869,000. Finally, Danske Bank A S boosted its stake in NU by 515.0% during the 4th quarter. Danske Bank A S now owns 5,074,732 shares of the company’s stock valued at $84,951,000 after acquiring an additional 4,249,632 shares during the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director directly owned 162,150 shares of the company’s stock, valued at $1,984,716. The trade was a 11.47% 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. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NU. UBS Group lowered their price objective on NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their target price on NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Zacks Research downgraded shares of NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Bank of America reissued an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.24.

NU Price Performance

NYSE NU opened at $13.60 on Monday. Nu Holdings Ltd. has a 12 month low of $11.20 and a 12 month high of $18.98. The firm has a market capitalization of $66.06 billion, a PE ratio of 20.93, a P/E/G ratio of 0.54 and a beta of 0.95. The company’s 50 day simple moving average is $12.89 and its 200 day simple moving average is $14.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58.

NU (NYSE:NU) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. As a group, equities research analysts forecast that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU announced that its board has approved a share repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

NU Company 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.