Matthews International Capital Management LLC Reduces Stock Position in Nu Holdings Ltd. $NU

Matthews International Capital Management LLC cut its stake in Nu Holdings Ltd. (NYSE:NU) by 63.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,239 shares of the company’s stock after selling 177,411 shares during the period. Matthews International Capital Management LLC’s holdings in NU were worth $1,430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Fortis Capital Advisors LLC purchased a new position in NU in the second quarter valued at about $648,000. Vaughan Nelson Investment Management L.P. increased its holdings in NU by 2,221.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 615,585 shares of the company’s stock valued at $8,446,000 after buying an additional 589,065 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in NU in the second quarter valued at about $36,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in NU by 17.0% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,309 shares of the company’s stock valued at $265,000 after buying an additional 2,809 shares in the last quarter. Finally, Sullivan Wood Capital Management LLC purchased a new position in NU in the second quarter valued at about $1,073,000. 84.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NU has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of NU in a report on Friday, June 13th. Bank of America raised their price objective on shares of NU from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Itau BBA Securities raised shares of NU from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Monday, August 18th. Citigroup raised shares of NU from a “sell” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $18.00 in a research note on Wednesday, August 20th. Finally, Susquehanna raised their price objective on shares of NU from $15.00 to $17.00 and gave the stock a “positive” rating in a research note on Wednesday, August 27th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NU has an average rating of “Moderate Buy” and an average price target of $17.06.

NU Stock Up 0.4%

Shares of NYSE NU opened at $15.28 on Friday. Nu Holdings Ltd. has a 1 year low of $9.01 and a 1 year high of $16.42. The firm’s 50 day moving average price is $14.29 and its 200 day moving average price is $12.87. The firm has a market cap of $73.61 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 0.79 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.57.

NU (NYSE:NU) last announced its earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NU had a net margin of 17.90% and a return on equity of 29.91%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the business earned $0.12 earnings per share. As a group, sell-side analysts anticipate that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

About NU

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.