2,569,755 Shares in Nu Holdings Ltd. $NU Acquired by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda purchased a new stake in Nu Holdings Ltd. (NYSE:NU) during the 1st quarter, HoldingsChannel reports. The fund purchased 2,569,755 shares of the company’s stock, valued at approximately $36,927,000. NU makes up approximately 3.1% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 11th largest position.

Several other hedge funds have also recently bought and sold shares of the stock. Sowell Financial Services LLC grew its holdings in shares of NU by 4.8% in the 4th quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock worth $217,000 after purchasing an additional 599 shares during the last quarter. Parallel Advisors LLC boosted its position in NU by 3.7% in the fourth quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after buying an additional 601 shares in the last quarter. MBM Wealth Consultants LLC grew its stake in NU by 1.2% during the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after buying an additional 607 shares during the last quarter. Cornerstone Wealth Group LLC grew its stake in NU by 1.2% during the fourth quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after buying an additional 621 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of NU by 3.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after buying an additional 624 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NU news, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

NU Stock Down 1.3%

NYSE:NU opened at $13.60 on Friday. The stock’s fifty day moving average price is $12.89 and its two-hundred day moving average price is $14.78. The company has a market cap of $66.06 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 0.54 and a beta of 0.95. Nu Holdings Ltd. has a 52-week low of $11.20 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58.

NU (NYSE:NU) last issued its 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). NU had a net margin of 18.20% and a return on equity of 30.91%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. On average, analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NU shares. Zacks Research cut shares of NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Needham & Company LLC began coverage on NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 price objective on the stock. Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Scotiabank lowered NU to a “sector perform” rating and set a $13.00 target price for the company. in a research note on Wednesday, June 3rd. Finally, Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.24.

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.