Mackenzie Financial Corp Makes New $7.44 Million Investment in Nu Holdings Ltd. (NYSE:NU)

Key Points

• Mackenzie Financial Corp has made a new investment of $7.44 million in Nu Holdings Ltd, acquiring 726,516 shares in the first quarter.
• Several hedge funds have increased their stakes in Nu Holdings, with Baillie Gifford & Co. boosting its position by 17.9% and purchasing an additional 40.2 million shares.
• Wall Street analysts are optimistic about Nu Holdings, with various brokerages recently boosting their price targets and maintaining an overall "Moderate Buy" rating for the stock.

Mackenzie Financial Corp bought a new position in Nu Holdings Ltd. (NYSE:NU - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 726,516 shares of the company's stock, valued at approximately $7,440,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NU. Baillie Gifford & Co. boosted its stake in NU by 17.9% in the first quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company's stock worth $2,715,243,000 after buying an additional 40,181,132 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in NU in the fourth quarter worth approximately $154,209,000. Jericho Capital Asset Management L.P. purchased a new stake in NU in the fourth quarter worth approximately $92,194,000. Northern Trust Corp boosted its stake in NU by 45.1% in the fourth quarter. Northern Trust Corp now owns 25,496,091 shares of the company's stock worth $264,140,000 after buying an additional 7,930,598 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NU by 35.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,232,309 shares of the company's stock worth $199,247,000 after buying an additional 5,084,960 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NU. Barclays boosted their price objective on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Susquehanna boosted their price objective on NU from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. boosted their price objective on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of NU in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.50.

NU Price Performance

Shares of NU stock opened at $12.21 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.20. The company has a market cap of $58.85 billion, a PE ratio of 28.40, a P/E/G ratio of 0.71 and a beta of 1.07. The business has a 50 day moving average of $12.72 and a 200 day moving average of $12.12. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $16.15.

NU (NYSE:NU - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.09 billion. NU had a net margin of 17.88% and a return on equity of 30.77%. During the same quarter in the prior year, the company earned $0.09 EPS. As a group, equities research analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

About NU

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.

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