CI Investments Inc. Raises Stake in Nu Holdings Ltd. $NU

CI Investments Inc. boosted its stake in Nu Holdings Ltd. (NYSE:NU) by 199.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,366,670 shares of the company’s stock after purchasing an additional 2,909,356 shares during the quarter. CI Investments Inc.’s holdings in NU were worth $62,749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NU. LOM Asset Management Ltd bought a new stake in shares of NU during the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its position in shares of NU by 14,810.0% in 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 during the period. Cornerstone Planning Group LLC boosted its position in shares of NU by 5,448.3% in 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 during the period. Zions Bancorporation National Association UT bought a new position in shares of NU in the fourth quarter valued at approximately $27,000. Finally, Morse Asset Management Inc purchased a new position in NU during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Wall Street Analyst Weigh In

NU has been the topic of a number of analyst reports. Zacks Research lowered shares of NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Bank of America reissued an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Finally, UBS Group lowered their price objective on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.24.

NU Trading Up 2.8%

NYSE NU opened at $14.38 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $12.92 and its two-hundred day simple moving average is $14.73. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The company has a market capitalization of $69.85 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 0.56 and a beta of 0.95.

NU (NYSE:NU) last posted its quarterly earnings data 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). The firm 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%. Research analysts forecast that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU declared that its board has approved a stock repurchase program on Thursday, June 4th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 21,000 shares of the business’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 value of $257,040.00. Following the completion of the sale, the director owned 162,150 shares in the company, valued at $1,984,716. The trade was a 11.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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.