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

Investment Management Associates Inc. ADV bought a new position in Nu Holdings Ltd. (NYSE:NU) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 498,340 shares of the company’s stock, valued at approximately $7,978,000. NU accounts for 2.4% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 16th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Verdence Capital Advisors LLC lifted its holdings in NU by 1.8% during the third quarter. Verdence Capital Advisors LLC now owns 44,508 shares of the company’s stock worth $712,000 after acquiring an additional 804 shares in the last quarter. Canvas Wealth Advisors LLC raised its position in shares of NU by 4.9% during the third quarter. Canvas Wealth Advisors LLC now owns 19,087 shares of the company’s stock worth $292,000 after purchasing an additional 900 shares during the period. Covestor Ltd lifted its holdings in shares of NU by 8.2% during the 3rd quarter. Covestor Ltd now owns 12,194 shares of the company’s stock valued at $195,000 after purchasing an additional 919 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of NU by 15.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 7,324 shares of the company’s stock valued at $128,000 after purchasing an additional 972 shares during the period. Finally, Core Wealth Partners LLC increased its stake in NU by 8.0% during the 3rd quarter. Core Wealth Partners LLC now owns 13,500 shares of the company’s stock worth $216,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Santander upgraded shares of NU from a “neutral” rating to an “outperform” rating in a report on Thursday, December 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of NU in a research note on Thursday, December 18th. KeyCorp increased their target price on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Susquehanna boosted their price target on NU from $19.00 to $22.00 and gave the company a “positive” rating in a report on Tuesday, January 27th. Finally, Zacks Research raised NU from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.34.

NU Price Performance

NYSE:NU opened at $17.58 on Wednesday. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week high of $18.98. The company has a market cap of $84.71 billion, a P/E ratio of 34.47, a P/E/G ratio of 0.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50-day simple moving average is $17.15 and its 200 day simple moving average is $15.76.

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

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.