Vaughan Nelson Investment Management L.P. Sells 458,815 Shares of Nu Holdings Ltd. $NU

Vaughan Nelson Investment Management L.P. cut its position in Nu Holdings Ltd. (NYSE:NU) by 73.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,060 shares of the company’s stock after selling 458,815 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in NU were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

NU Price Performance

NYSE:NU opened at $12.82 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $62.25 billion, a P/E ratio of 19.72, a P/E/G ratio of 0.51 and a beta of 0.95. Nu Holdings Ltd. has a 12 month low of $11.20 and a 12 month high of $18.98. The business’s 50-day moving average is $13.38 and its 200 day moving average is $15.20.

NU (NYSE:NU) last announced 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 net margin of 18.20% and a return on equity of 30.91%. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. On average, equities research analysts forecast 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 share buyback plan on Thursday, June 4th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. This represents a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several analysts recently issued reports on NU shares. Itau BBA Securities reiterated an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Susquehanna cut NU from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $13.00 in a report on Wednesday, June 3rd. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price objective for the company. in a report on Wednesday, June 3rd. Bank of America reiterated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.08.

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.