Nu Holdings Ltd. $NU Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Nu Holdings Ltd. (NYSE:NU) by 1,087.7% in the 3rd quarter, Holdings Channel reports. The firm owned 2,418,500 shares of the company’s stock after purchasing an additional 2,214,865 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in NU were worth $38,720,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Gordian Capital Singapore Pte Ltd purchased a new position in NU in the third quarter valued at about $1,921,000. Mackenzie Financial Corp boosted its stake in shares of NU by 44.8% during the 3rd quarter. Mackenzie Financial Corp now owns 707,798 shares of the company’s stock worth $11,332,000 after acquiring an additional 219,097 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of NU in the 3rd quarter worth approximately $957,000. Capital World Investors grew its holdings in shares of NU by 1.2% in the 3rd quarter. Capital World Investors now owns 10,345,580 shares of the company’s stock worth $165,633,000 after acquiring an additional 118,189 shares during the period. Finally, BW Gestao de Investimentos Ltda. purchased a new position in NU in the 3rd quarter valued at approximately $4,803,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NU shares. KeyCorp boosted their target price on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. The Goldman Sachs Group restated a “buy” rating and issued a $21.00 price target on shares of NU in a research report on Thursday, December 18th. Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research note on Tuesday, February 24th. Susquehanna boosted their price objective on shares of NU from $19.00 to $22.00 and gave the stock a “positive” rating in a research report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of NU from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.22.

NU Trading Down 3.6%

Shares of NU stock opened at $13.97 on Friday. The firm has a 50-day moving average price of $16.78 and a 200 day moving average price of $16.21. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $18.98. The company has a market capitalization of $67.29 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 0.57 and a beta of 1.11. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.39.

NU (NYSE:NU) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.55 billion. NU had a net margin of 18.19% and a return on equity of 30.68%. Research analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal 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.