Alberta Investment Management Corp Buys 652,900 Shares of Nu Holdings Ltd. $NU

Alberta Investment Management Corp increased its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 3,647.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 670,800 shares of the company's stock after purchasing an additional 652,900 shares during the quarter. Alberta Investment Management Corp's holdings in NU were worth $11,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NU. LOM Asset Management Ltd bought a new position in shares of NU in the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company's stock worth $25,000 after buying an additional 1,481 shares during the period. Cornerstone Planning Group LLC boosted its holdings in NU by 5,448.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company's stock valued at $27,000 after acquiring an additional 1,580 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of NU in the fourth quarter valued at about $27,000. Finally, Morse Asset Management Inc acquired a new stake in shares of NU in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 84.02% of the company's stock.

NU Stock Up 2.5%

Shares of NU stock opened at $12.74 on Wednesday. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a fifty day moving average price of $13.51 and a 200 day moving average price of $15.33. The stock has a market cap of $61.85 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.50 and a beta of 0.95.

NU (NYSE:NU - Get Free Report) last issued its 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). NU had a net margin of 18.20% and a return on equity of 30.91%. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. Analysts predict that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.

NU announced that its board has authorized a share buyback plan on Thursday, June 4th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of NU 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 completion of the transaction, the director directly owned 162,150 shares of the company's stock, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the sale, 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 position. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America reissued an "underperform" rating on shares of NU in a research report on Tuesday, June 2nd. Itau BBA Securities reaffirmed an "outperform" rating on shares of NU in a report on Tuesday, March 17th. UBS Group dropped their price target on NU from $18.10 to $16.90 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Scotiabank cut shares of NU to a "sector perform" rating and set a $13.00 target price for the company. in a research note on Wednesday, June 3rd. Finally, Susquehanna downgraded shares of NU from a "positive" rating to a "neutral" rating and reduced their price target for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.