USS Investment Management Ltd Boosts Stock Holdings in Nu Holdings Ltd. $NU

USS Investment Management Ltd grew its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 84.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,854,145 shares of the company’s stock after buying an additional 3,143,141 shares during the quarter. USS Investment Management Ltd’s holdings in NU were worth $98,528,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. LOM Asset Management Ltd bought a new stake in shares of NU in the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd grew its position in NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after acquiring an additional 1,481 shares during the last quarter. Cornerstone Planning Group LLC grew its position in NU by 5,448.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after acquiring an additional 1,580 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in NU in the 4th quarter worth approximately $27,000. Finally, Morse Asset Management Inc purchased a new position in NU in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Stock Up 1.7%

Shares of NYSE:NU opened at $13.35 on Wednesday. The stock’s 50-day moving average is $13.10 and its 200 day moving average is $15.03. The company has a market cap of $64.84 billion, a PE ratio of 20.54, a P/E/G ratio of 0.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98.

NU (NYSE:NU) last released its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. Sell-side analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU declared that its Board of Directors has approved a stock buyback program on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at NU

In related news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the transaction, the director owned 162,150 shares in the company, valued at $1,984,716. This represents 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.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NU. Bank of America reiterated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 target price on the stock. in a research note on Wednesday, June 3rd. Needham & Company LLC initiated coverage on shares of NU in a report on Friday. They set a “buy” rating and a $17.00 price target for the company. Susquehanna cut shares of NU from a “positive” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Finally, Zacks Research lowered shares of NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.07.

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.