Moore Capital Management LP Acquires New Holdings in Nu Holdings Ltd. $NU

Moore Capital Management LP bought a new position in shares of Nu Holdings Ltd. (NYSE:NU) in the 3rd quarter, HoldingsChannel reports. The fund bought 3,462,251 shares of the company’s stock, valued at approximately $55,431,000. NU makes up 0.8% of Moore Capital Management LP’s portfolio, making the stock its 21st biggest holding.

Several other large investors have also recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in NU by 166.6% during the second quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock worth $35,000 after purchasing an additional 1,601 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of NU in the second quarter valued at $358,000. PNC Financial Services Group Inc. raised its holdings in shares of NU by 8.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 186,921 shares of the company’s stock valued at $2,565,000 after buying an additional 15,087 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of NU by 4.9% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 67,053 shares of the company’s stock valued at $920,000 after buying an additional 3,151 shares during the period. Finally, Western Wealth Management LLC lifted its stake in NU by 35.8% during the 2nd quarter. Western Wealth Management LLC now owns 20,228 shares of the company’s stock worth $278,000 after acquiring an additional 5,330 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

NU Trading Up 2.6%

NYSE:NU opened at $14.25 on Tuesday. The firm has a market cap of $68.64 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. The stock has a fifty day moving average price of $16.64 and a 200 day moving average price of $16.23. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $18.98. 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 issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share 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 the consensus estimate of $4.55 billion. NU had a return on equity of 30.68% and a net margin of 18.19%. Sell-side analysts anticipate that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group lowered their target price on NU from $18.40 to $17.20 and set a “neutral” rating for the company in a report on Wednesday, March 4th. Zacks Research raised shares of NU from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Bank of America reissued a “neutral” rating on shares of NU in a research report on Monday, March 9th. Weiss Ratings upgraded shares of NU from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Finally, Susquehanna upped their target price on shares of NU from $19.00 to $22.00 and gave the stock a “positive” rating in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.22.

NU 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.