Salem Investment Counselors Inc. Has $34.94 Million Position in Nu Holdings Ltd. $NU

Salem Investment Counselors Inc. trimmed its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,087,012 shares of the company’s stock after selling 52,440 shares during the quarter. NU accounts for 1.0% of Salem Investment Counselors Inc.’s holdings, making the stock its 22nd biggest position. Salem Investment Counselors Inc.’s holdings in NU were worth $34,937,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in NU by 619.4% during the 4th quarter. SG Americas Securities LLC now owns 613,424 shares of the company’s stock worth $10,269,000 after purchasing an additional 528,154 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of NU by 71.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 27,590,473 shares of the company’s stock valued at $461,865,000 after purchasing an additional 11,488,794 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of NU by 47.0% in the fourth quarter. Wedmont Private Capital now owns 55,047 shares of the company’s stock valued at $963,000 after purchasing an additional 17,611 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of NU by 22.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,394 shares of the company’s stock worth $74,000 after buying an additional 802 shares during the period. Finally, Aventura Private Wealth LLC acquired a new position in shares of NU during the fourth quarter worth about $149,000. 84.02% of the stock is currently owned by institutional investors and hedge funds.

NU Trading Up 5.2%

Shares of NYSE:NU opened at $14.67 on Tuesday. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.56 and a current ratio of 0.58. The company has a market capitalization of $70.67 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. The company has a 50-day simple moving average of $16.31 and a 200 day simple moving average of $16.21.

NU (NYSE:NU) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. NU had a return on equity of 30.68% and a net margin of 18.19%.The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.55 billion. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group raised shares of NU from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.20 to $17.60 in a research note on Thursday, March 19th. Weiss Ratings raised shares of NU from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Santander upgraded shares of NU from a “neutral” rating to an “outperform” rating in a report on Thursday, December 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of NU in a research report on Thursday, December 18th. Finally, Bank of America reiterated a “neutral” rating on shares of NU in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $18.26.

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.