Advent International L.P. Sells 1,704,666 Shares of Nu Holdings Ltd. $NU

Advent International L.P. lessened its holdings in Nu Holdings Ltd. (NYSE:NU) by 18.9% during the first quarter, Holdings Channel reports. The fund owned 7,292,793 shares of the company’s stock after selling 1,704,666 shares during the period. NU makes up 2.5% of Advent International L.P.’s holdings, making the stock its 6th largest holding. Advent International L.P.’s holdings in NU were worth $104,797,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LOM Asset Management Ltd acquired a new position in shares of NU in the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of NU by 14,810.0% during 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 last quarter. Cornerstone Planning Group LLC lifted 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 buying an additional 1,580 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of NU during the 4th quarter worth about $27,000. Finally, Morse Asset Management Inc bought a new stake in shares of NU during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Stock Up 0.2%

NYSE NU opened at $14.12 on Monday. The business has a fifty day moving average price of $13.02 and a two-hundred day moving average price of $14.67. The stock has a market capitalization of $68.54 billion, a PE ratio of 21.72, a PEG ratio of 0.56 and a beta of 0.95. Nu Holdings Ltd. has a fifty-two week low of $11.20 and a fifty-two week high of $18.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58.

NU (NYSE:NU) last released its 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 business 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%. Equities analysts expect that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its Board of Directors has initiated a share repurchase program on Thursday, June 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NU. Bank of America reiterated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. raised their price objective on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Finally, CICC Research began coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NU currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

Insider Activity

In other news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $12.24, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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.