NU (NYSE:NU) to Buyback $0.00 in Outstanding Shares

NU (NYSE:NU) announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 4th, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

NU has been the topic of a number of recent research reports. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a report on Wednesday. Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $13.00 in a report on Wednesday. Bank of America reiterated an “underperform” rating on shares of NU in a report on Tuesday. Zacks Research lowered shares of NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.08.

NU Stock Up 4.3%

NU traded up $0.51 during midday trading on Thursday, hitting $12.15. The company had a trading volume of 69,153,246 shares, compared to its average volume of 67,131,752. NU has a 52 week low of $11.20 and a 52 week high of $18.98. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $58.97 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 0.46 and a beta of 0.95. The stock’s 50 day moving average price is $13.84 and its 200 day moving average price is $15.55.

NU (NYSE:NU) last posted its earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. On average, research analysts anticipate that NU will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at $34,245,725.78. This represents a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 21,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is owned by corporate insiders.

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.