Moran Wealth Management LLC Has $5.17 Million Stock Position in Nu Holdings Ltd. $NU

Moran Wealth Management LLC lifted its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 19.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 360,144 shares of the company’s stock after buying an additional 59,731 shares during the period. Moran Wealth Management LLC’s holdings in NU were worth $5,175,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. World Investment Advisors grew its stake in NU by 5.1% during the first quarter. World Investment Advisors now owns 16,370 shares of the company’s stock worth $235,000 after buying an additional 791 shares in the last quarter. Optas LLC bought a new position in NU in the 1st quarter valued at about $199,000. Elevation Point Wealth Partners LLC raised its position in shares of NU by 461.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 112,269 shares of the company’s stock valued at $1,613,000 after buying an additional 92,290 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its position in shares of NU by 559.0% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 449,432 shares of the company’s stock valued at $6,458,000 after buying an additional 381,234 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. bought a new stake in shares of NU during the 1st quarter worth approximately $626,000. Institutional investors own 84.02% of the company’s stock.

NU Stock Down 0.1%

NU stock opened at $13.60 on Friday. The firm has a 50-day moving average price of $13.01 and a 200-day moving average price of $14.97. Nu Holdings Ltd. has a 12 month low of $11.20 and a 12 month high of $18.98. 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 stock has a market capitalization of $66.02 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 0.54 and a beta of 0.95.

NU (NYSE:NU) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. As a group, equities research analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other NU news, Director Anita M. Sands sold 21,000 shares of the firm’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 value of $257,040.00. Following the sale, the director owned 162,150 shares in the company, valued at $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NU has been the topic of several analyst reports. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Itau BBA Securities restated an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Needham & Company LLC began coverage on NU in a research note on Friday, June 26th. They set a “buy” rating and a $17.00 target price for the company. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 target price on the stock. in a report on Wednesday, June 3rd. Finally, Bank of America reiterated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Ten 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.07.

NU Company 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.