Moran Wealth Management LLC Acquires 59,731 Shares of Nu Holdings Ltd. $NU

Moran Wealth Management LLC boosted its holdings in Nu Holdings Ltd. (NYSE:NU) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 360,144 shares of the company’s stock after acquiring an additional 59,731 shares during the period. Moran Wealth Management LLC’s holdings in NU were worth $5,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NU. Sowell Financial Services LLC increased its holdings in shares of NU by 4.8% in the fourth quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock valued at $217,000 after purchasing an additional 599 shares during the last quarter. Parallel Advisors LLC raised its position in shares of NU by 3.7% in the fourth quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after purchasing an additional 601 shares during the period. MBM Wealth Consultants LLC lifted its stake in shares of NU by 1.2% during the 4th quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after buying an additional 607 shares during the last quarter. Cornerstone Wealth Group LLC lifted its stake in shares of NU by 1.2% during the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after buying an additional 621 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in shares of NU by 3.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after buying an additional 624 shares during the period. Institutional investors own 84.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NU shares. Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $13.00 in a research note on Wednesday, June 3rd. UBS Group cut their price objective on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Itau BBA Securities restated an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Bank of America reiterated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NU currently has a consensus rating of “Moderate Buy” and an average price target of $17.07.

Insider Activity

In other NU news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were 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 in the company, valued at $1,984,716. This represents a 11.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

NU Trading Down 0.1%

Shares of NU stock opened at $13.60 on Friday. The firm has a 50-day moving average of $13.01 and a 200-day moving average of $14.97. The stock has a market cap of $66.02 billion, a PE ratio of 20.92, a PEG ratio of 0.54 and a beta of 0.95. Nu Holdings Ltd. has a 52-week low of $11.20 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58.

NU (NYSE:NU) last released its quarterly earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. As a group, sell-side analysts forecast that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.