Nu Holdings Ltd. $NU Shares Acquired by New Vernon Investment Management LLC

Key Points

• New Vernon Investment Management LLC increased its stake in Nu Holdings Ltd. by 765.3%, owning 49,324 shares valued at $505,000 after purchasing an additional 43,624 shares in the first quarter.
• Analysts have raised their ratings for NU, with Itau BBA Securities upgrading it to an "outperform" with a price target of $18.00, contributing to the overall positive sentiment around the stock.
• Nu Holdings reported a quarterly earnings per share of $0.14, exceeding estimates, with a revenue of $3.70 billion, although it fell short of the $3.78 billion expected by analysts.

New Vernon Investment Management LLC boosted its position in Nu Holdings Ltd. (NYSE:NU - Free Report) by 765.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,324 shares of the company's stock after buying an additional 43,624 shares during the quarter. New Vernon Investment Management LLC's holdings in NU were worth $505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. increased its holdings in NU by 286,000.0% in the first quarter. NBC Securities Inc. now owns 2,861 shares of the company's stock valued at $29,000 after buying an additional 2,860 shares during the last quarter. Capital Analysts LLC bought a new stake in NU in the first quarter valued at about $31,000. TFC Financial Management Inc. increased its holdings in NU by 74.1% in the first quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock valued at $32,000 after buying an additional 1,325 shares during the last quarter. WPG Advisers LLC bought a new stake in NU in the first quarter valued at about $38,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in NU by 51.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock valued at $39,000 after buying an additional 1,295 shares during the last quarter. 84.02% of the stock is owned by institutional investors.

NU Stock Performance

Shares of NYSE NU traded down $0.18 during midday trading on Thursday, hitting $14.73. 20,226,792 shares of the company's stock were exchanged, compared to its average volume of 56,872,406. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.57 and a quick ratio of 0.57. The stock's 50 day moving average price is $13.25 and its 200-day moving average price is $12.22. The firm has a market cap of $70.95 billion, a P/E ratio of 32.01, a PEG ratio of 0.78 and a beta of 1.07. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $16.15.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NU shares. UBS Group boosted their price objective on NU from $14.30 to $15.60 and gave the company a "neutral" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Bank of America lifted their target price on NU from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Citigroup upgraded NU from a "sell" rating to a "buy" rating and lifted their target price for the company from $9.00 to $18.00 in a research note on Wednesday, August 20th. Finally, Itau BBA Securities upgraded NU from a "market perform" rating to an "outperform" rating and set a $18.00 target price for the company in a research note on Monday, August 18th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, NU currently has a consensus rating of "Moderate Buy" and an average price target of $16.96.

NU 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.