Salem Investment Counselors Inc. Raises Holdings in Nu Holdings Ltd. (NYSE:NU)

Salem Investment Counselors Inc. boosted its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,281,213 shares of the company's stock after acquiring an additional 115,100 shares during the period. NU accounts for about 0.8% of Salem Investment Counselors Inc.'s holdings, making the stock its 26th biggest position. Salem Investment Counselors Inc.'s holdings in NU were worth $23,360,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. OneAscent Wealth Management LLC raised its position in NU by 6.5% in the fourth quarter. OneAscent Wealth Management LLC now owns 12,481 shares of the company's stock worth $129,000 after acquiring an additional 760 shares during the period. Blue Trust Inc. raised its position in NU by 4.9% in the fourth quarter. Blue Trust Inc. now owns 21,784 shares of the company's stock worth $226,000 after acquiring an additional 1,011 shares during the period. Quarry LP raised its position in NU by 15.3% in the fourth quarter. Quarry LP now owns 9,095 shares of the company's stock worth $94,000 after acquiring an additional 1,205 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 purchasing an additional 1,295 shares during the period. Finally, Avestar Capital LLC raised its position in shares of NU by 2.6% in the fourth quarter. Avestar Capital LLC now owns 53,809 shares of the company's stock valued at $557,000 after purchasing an additional 1,353 shares during the period. Institutional investors own 84.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NU. Barclays boosted their price target on shares of 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 target on shares of NU from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Wednesday, May 14th. UBS Group lowered their price target on shares of NU from $15.50 to $15.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised shares of NU from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $14.00 to $13.00 in a research report on Tuesday, April 8th. One investment 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.com, NU presently has an average rating of "Moderate Buy" and an average price target of $15.13.

NU Price Performance

NYSE:NU traded down $0.08 during mid-day trading on Friday, hitting $11.92. 54,146,330 shares of the stock traded hands, compared to its average volume of 45,085,926. The business's 50-day moving average price is $11.95 and its 200 day moving average price is $11.71. The company has a market cap of $57.45 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 0.48 and a beta of 1.04. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $16.15. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20.

NU (NYSE:NU - Get Free Report) last released its quarterly 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). NU had a return on equity of 30.99% and a net margin of 17.12%. The company had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the firm earned $0.09 EPS. On average, analysts expect that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal 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.