Great Lakes Advisors LLC Sells 363,023 Shares of Nu Holdings Ltd. $NU

Key Points

• Great Lakes Advisors LLC sold 363,023 shares of Nu Holdings Ltd., reducing its position by 50%, leaving the fund with a total of 362,445 shares worth approximately $3.71 million.
• Institutional investors now hold 84.02% of Nu Holdings' stock, with several hedge funds increasing their stakes in the company during the first quarter of the year.
• Nu Holdings reported better-than-expected earnings of $0.14 per share, beating estimates, and had a revenue of $3.70 billion for the last quarter, which was below consensus projections.

Great Lakes Advisors LLC reduced its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 362,445 shares of the company's stock after selling 363,023 shares during the period. Great Lakes Advisors LLC's holdings in NU were worth $3,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Focus Partners Advisor Solutions LLC boosted its holdings in NU by 5.5% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 15,974 shares of the company's stock valued at $164,000 after purchasing an additional 838 shares during the period. Perigon Wealth Management LLC raised its position in shares of NU by 8.4% in the first quarter. Perigon Wealth Management LLC now owns 14,641 shares of the company's stock valued at $150,000 after buying an additional 1,136 shares in the last quarter. Richards Merrill & Peterson Inc. boosted its stake in shares of NU by 43.6% in the first quarter. Richards Merrill & Peterson Inc. now owns 4,115 shares of the company's stock valued at $42,000 after buying an additional 1,250 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in NU by 51.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock worth $39,000 after buying an additional 1,295 shares in the last quarter. Finally, TFC Financial Management Inc. increased its stake in NU by 74.1% during the 1st quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock worth $32,000 after acquiring an additional 1,325 shares during the period. Institutional investors and hedge funds own 84.02% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of NU in a research report on Friday, June 13th. UBS Group raised their target price on shares of NU from $14.30 to $15.60 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Itau BBA Securities raised shares of NU from a "market perform" rating to an "outperform" rating and set a $18.00 target price on the stock in a research note on Monday, August 18th. Bradesco Corretora upgraded shares of NU to an "outperform" rating and set a $17.00 price target for the company in a report on Monday, August 25th. Finally, Santander raised NU to a "neutral" rating in a report on Monday, August 25th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $17.06.

NU Trading Up 0.3%

NU opened at $15.50 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.57 and a quick ratio of 0.57. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $16.15. The company's 50 day moving average price is $13.42 and its two-hundred day moving average price is $12.30. The firm has a market capitalization of $74.71 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 0.81 and a beta of 1.07.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NU had a net margin of 17.90% and a return on equity of 29.91%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm earned $0.12 earnings per share. As a group, research analysts predict that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

NU Company Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.

Want to see what other hedge funds are holding NU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nu Holdings Ltd. (NYSE:NU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.