Man Group plc Has $126.05 Million Stake in Nu Holdings Ltd. $NU

Man Group plc lifted its position in shares of Nu Holdings Ltd. (NYSE:NU) by 27.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,529,936 shares of the company’s stock after purchasing an additional 1,624,142 shares during the period. Man Group plc owned about 0.16% of NU worth $126,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NU. LOM Asset Management Ltd acquired a new position in NU in the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd grew its stake 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 valued at $25,000 after purchasing an additional 1,481 shares during the period. Cornerstone Planning Group LLC grew 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 acquiring an additional 1,580 shares during the period. Zions Bancorporation National Association UT bought a new position in NU in the 4th quarter worth about $27,000. Finally, Morse Asset Management Inc purchased a new stake in shares of NU in the 4th quarter valued at about $31,000. 84.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NU shares. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Susquehanna lowered NU from a “positive” rating to a “neutral” rating and cut their price target for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. Scotiabank lowered 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 research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, Bank of America reissued an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Nine 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.08.

NU Stock Performance

Shares of NU stock opened at $12.87 on Thursday. The firm has a market capitalization of $62.48 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 0.51 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. The business has a fifty day moving average of $13.49 and a 200 day moving average of $15.30. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98.

NU (NYSE:NU) last released its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share 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 company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.06 billion. As a group, research analysts expect that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.

NU declared that its board has approved a stock repurchase plan on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at NU

In other news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the transaction, the chief executive officer directly owned 2,312,338 shares in the company, valued at $34,245,725.78. The trade was a 11.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 21,000 shares of NU 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 sale, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. The trade was a 11.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.20% of the company’s stock.

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.