Thornburg Investment Management Inc. Sells 121,851 Shares of Nu Holdings Ltd. $NU

Thornburg Investment Management Inc. reduced its position in shares of Nu Holdings Ltd. (NYSE:NU) by 10.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,069,535 shares of the company’s stock after selling 121,851 shares during the period. Thornburg Investment Management Inc.’s holdings in NU were worth $17,904,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NU. Caitong International Asset Management Co. Ltd increased its holdings in shares of NU by 14,810.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after acquiring an additional 1,481 shares in the last quarter. LOM Asset Management Ltd bought a new stake in shares of NU during the fourth quarter valued at approximately $25,000. Zions Bancorporation National Association UT bought a new stake in shares of NU during the fourth quarter valued at approximately $27,000. Cornerstone Planning Group LLC increased its holdings in shares of NU by 5,448.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of NU during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Stock Down 0.2%

Shares of NYSE:NU opened at $12.16 on Monday. The stock has a market cap of $59.06 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 0.49 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The business’s 50 day moving average is $13.58 and its 200 day moving average is $15.40.

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

NU declared that its board has authorized a stock buyback program on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication 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 NU 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 transaction, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of NU stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the transaction, the chief executive officer directly owned 2,312,338 shares in the company, valued at approximately $34,245,725.78. The trade was a 11.48% decrease in their position. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

NU has been the subject of several recent research reports. CICC Research initiated coverage on NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Citigroup downgraded NU from a “sell” rating to a “neutral” rating in a report on Monday. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Finally, Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price objective for the company. in a report on Wednesday, June 3rd. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.08.

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.