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

Key Points

• Investment Management Associates Inc. ADV increased its Nu Holdings stake by 15.6% in the first quarter, buying 144,894 more shares and bringing its total to 1,073,617 shares worth about $15.4 million.
• Institutional ownership remains high, with 84.02% of NU shares held by institutions and hedge funds. Several other large investors also recently boosted their positions.
• Analysts remain mixed on NU after recent updates: some firms cut ratings or price targets, but the stock still carries a Moderate Buy consensus with an average target price of $17.24.

Investment Management Associates Inc. ADV lifted its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 15.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,073,617 shares of the company's stock after buying an additional 144,894 shares during the period. NU makes up 3.7% of Investment Management Associates Inc. ADV's investment portfolio, making the stock its 11th largest holding. Investment Management Associates Inc. ADV's holdings in NU were worth $15,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Maxi Investments CY Ltd lifted its stake in shares of NU by 85.5% in the 4th quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company's stock worth $13,107,000 after acquiring an additional 361,000 shares during the period. C WorldWide Group Holding A S lifted its position in NU by 1,045.3% in the fourth quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company's stock valued at $5,219,000 after purchasing an additional 284,569 shares during the period. Vanguard Group Inc. boosted its holdings in NU by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company's stock valued at $415,401,000 after purchasing an additional 1,037,438 shares in the last quarter. Genoa Capital Gestora de Recursos Ltda. acquired a new position in NU during the 4th quarter worth approximately $3,869,000. Finally, Danske Bank A S increased its position in NU by 515.0% during the 4th quarter. Danske Bank A S now owns 5,074,732 shares of the company's stock worth $84,951,000 after purchasing an additional 4,249,632 shares during the period. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NU

In other news, Director Anita M. Sands sold 21,000 shares of the business's stock in a transaction dated 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 sale, the director owned 162,150 shares in the company, valued at approximately $1,984,716. The trade was a 11.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NU has been the topic of a number of recent analyst reports. Scotiabank lowered NU to a "sector perform" rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. UBS Group decreased their target price on shares of NU from $18.10 to $16.90 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Weiss Ratings cut shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 13th. Bank of America reiterated an "underperform" rating on shares of NU in a report on Tuesday, June 2nd. Finally, Zacks Research downgraded shares of NU from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 24th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently 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 cap of $66.06 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 0.54 and a beta of 0.95. The company's 50-day moving average is $12.89 and its two-hundred day moving average is $14.77. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.

NU (NYSE:NU - Get Free Report) last issued 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 firm had revenue of $5.32 billion for 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 0.83 EPS for the current year.

NU announced that its board has initiated a stock repurchase program on Thursday, June 4th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

About NU

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.

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