Madison Asset Management LLC Has $3.12 Million Stock Position in Nu Holdings Ltd. $NU

Key Points

• Madison Asset Management increased its stake in Nu Holdings by 63.2% in the first quarter, bringing its position to 217,448 shares valued at about $3.12 million.
• Nu reported mixed quarterly results: earnings of $0.19 per share slightly missed estimates, while revenue of $5.32 billion came in above expectations. Analysts now expect the company to earn $0.83 per share for the full year.
• The company’s board approved a stock repurchase plan, a move often viewed as a sign management believes the shares may be undervalued. Meanwhile, analysts remain split but overall rate NU a Moderate Buy with an average price target of $17.24.

Madison Asset Management LLC lifted its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 63.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,448 shares of the company's stock after purchasing an additional 84,230 shares during the period. Madison Asset Management LLC's holdings in NU were worth $3,125,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. LOM Asset Management Ltd acquired a new stake in NU during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd raised its position in shares of NU by 14,810.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company's stock valued at $25,000 after purchasing an additional 1,481 shares during the period. Cornerstone Planning Group LLC lifted its stake in shares of NU by 5,448.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company's stock worth $27,000 after buying an additional 1,580 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of NU during the 4th quarter worth about $27,000. Finally, Morse Asset Management Inc acquired a new position in NU in the 4th quarter valued at about $31,000. 84.02% of the stock is currently owned by institutional investors and hedge funds.

NU Price Performance

Shares of NYSE NU opened at $14.38 on Wednesday. The business has a fifty day moving average price of $12.92 and a two-hundred day moving average price of $14.73. The stock has a market capitalization of $69.85 billion, a PE ratio of 22.13, a P/E/G ratio of 0.56 and a beta of 0.95. 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 Holdings Ltd. has a fifty-two week low of $11.20 and a fifty-two week high of $18.98.

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). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. As a group, equities analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were 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 of the company's stock, valued at approximately $1,984,716. This represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 13th. Scotiabank cut NU to a "sector perform" rating and set a $13.00 price target for the company. in a report on Wednesday, June 3rd. CICC Research assumed coverage on NU in a report on Tuesday, April 14th. They issued an "outperform" rating and a $18.00 price objective on the stock. UBS Group lowered their price objective on NU from $18.10 to $16.90 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Finally, Bank of America reissued an "underperform" rating on shares of NU in a research report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NU has a consensus rating of "Moderate Buy" and an average price target of $17.24.

NU 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.

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