Investment Management Associates Inc. ADV Purchases New Position in Nu Holdings Ltd. $NU

Investment Management Associates Inc. ADV acquired a new position in shares of Nu Holdings Ltd. (NYSE:NU) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 498,340 shares of the company’s stock, valued at approximately $7,978,000. NU makes up approximately 2.4% of Investment Management Associates Inc. ADV’s portfolio, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NU. Ameritas Advisory Services LLC bought a new stake in shares of NU in the 2nd quarter worth about $36,000. US Bancorp DE boosted its position in NU by 5.1% in the second quarter. US Bancorp DE now owns 274,399 shares of the company’s stock valued at $3,765,000 after buying an additional 13,245 shares in the last quarter. Callan Family Office LLC bought a new stake in NU during the second quarter worth about $361,000. Blue Trust Inc. increased its holdings in shares of NU by 8.7% during the second quarter. Blue Trust Inc. now owns 31,575 shares of the company’s stock worth $433,000 after buying an additional 2,524 shares in the last quarter. Finally, PDS Planning Inc increased its holdings in shares of NU by 17.2% during the second quarter. PDS Planning Inc now owns 13,033 shares of the company’s stock worth $179,000 after buying an additional 1,909 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NU has been the topic of several recent analyst reports. Susquehanna boosted their target price on NU from $19.00 to $22.00 and gave the stock a “positive” rating in a report on Tuesday, January 27th. Zacks Research raised NU from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Santander upgraded NU from a “neutral” rating to an “outperform” rating in a report on Thursday, December 4th. UBS Group lifted their price target on NU from $16.00 to $18.40 and gave the company a “neutral” rating in a report on Thursday, December 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of NU in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.34.

NU Stock Up 0.2%

Shares of NYSE:NU opened at $17.58 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $84.71 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 0.57 and a beta of 1.08. The company has a 50 day moving average of $17.15 and a 200-day moving average of $15.76. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $18.98.

NU (NYSE:NU) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $3.96 billion. NU had a net margin of 17.97% and a return on equity of 30.12%. On average, sell-side analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

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.