Amova Asset Management Americas Inc. Reduces Stock Position in Nu Holdings Ltd. $NU

Amova Asset Management Americas Inc. lowered its stake in Nu Holdings Ltd. (NYSE:NU) by 12.1% during the 4th quarter, HoldingsChannel reports. The firm owned 4,450,395 shares of the company’s stock after selling 611,303 shares during the period. Amova Asset Management Americas Inc.’s holdings in NU were worth $74,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LOM Asset Management Ltd bought a new stake in shares of NU in the fourth quarter worth $25,000. Cornerstone Planning Group LLC grew its holdings 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 worth $27,000 after acquiring an additional 1,580 shares during the period. Morse Asset Management Inc bought a new stake in shares of NU in the fourth quarter worth $31,000. Fifth Third Bancorp grew its holdings in shares of NU by 433.0% in the fourth quarter. Fifth Third Bancorp now owns 1,988 shares of the company’s stock worth $33,000 after acquiring an additional 1,615 shares during the period. Finally, VSM Wealth Advisory LLC grew its holdings in shares of NU by 1,000.0% in the third quarter. VSM Wealth Advisory LLC now owns 3,300 shares of the company’s stock worth $53,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Insiders Place Their Bets

In other NU news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of NU stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the sale, the chief executive officer directly owned 2,312,338 shares in the company, valued at approximately $34,245,725.78. The trade was a 11.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction 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 completion of the sale, the director owned 162,150 shares in the company, valued at approximately $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

NU Stock Performance

Shares of NYSE NU opened at $11.87 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $57.65 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.46 and a beta of 0.95. The firm’s fifty day moving average is $13.71 and its two-hundred day moving average is $15.48. Nu Holdings Ltd. has a 52-week low of $11.20 and a 52-week high of $18.98.

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 analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $5.32 billion during 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, analysts anticipate that Nu Holdings Ltd. will post 0.84 EPS for the current fiscal year.

NU announced that its board has authorized a share repurchase program on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on NU. Itau BBA Securities restated an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. CICC Research began coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. UBS Group cut their price target on NU from $18.10 to $16.90 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Bank of America restated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Finally, Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NU currently has an average rating of “Moderate Buy” and a consensus target price of $17.08.

NU 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.