Nu Holdings Ltd. $NU Holdings Lessened by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 6.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,667,236 shares of the company’s stock after selling 712,438 shares during the period. NU makes up approximately 2.2% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 10th largest position. Manning & Napier Advisors LLC owned 0.22% of NU worth $153,288,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sowell Financial Services LLC lifted its stake in NU by 4.8% during the fourth quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock worth $217,000 after purchasing an additional 599 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of 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 raised its holdings in shares of NU by 1.2% in the 4th quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock valued at $842,000 after buying an additional 607 shares during the period. Cornerstone Wealth Group LLC lifted its stake in NU by 1.2% during the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after acquiring an additional 621 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its stake in NU by 3.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after acquiring an additional 624 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NU. Scotiabank cut NU to a “sector perform” rating and set a $13.00 target price for the company. in a report on Wednesday, June 3rd. Itau BBA Securities reissued an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Needham & Company LLC assumed coverage on shares of NU in a report on Friday, June 26th. They issued a “buy” rating and a $17.00 price objective for the company. Zacks Research downgraded shares of NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $13.00 in a report on Wednesday, June 3rd. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NU presently has an average rating of “Moderate Buy” and an average target price of $17.24.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the transaction, the director owned 162,150 shares in the company, valued at $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

NU Stock Up 0.9%

NU traded up $0.12 on Friday, hitting $13.79. 124,217,104 shares of the company were exchanged, compared to its average volume of 50,912,856. The firm has a 50-day moving average price of $12.93 and a two-hundred day moving average price of $14.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The company has a market cap of $66.95 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 0.55 and a beta of 0.95.

NU (NYSE:NU) last posted 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). NU had a net margin of 18.20% and a return on equity of 30.91%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. On average, equities analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU announced that its Board of Directors has authorized a share buyback plan on Thursday, June 4th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.