Empowered Funds LLC Grows Position in Nu Holdings Ltd. $NU

Empowered Funds LLC boosted its position in Nu Holdings Ltd. (NYSE:NU) by 28.1% during the 1st quarter, Holdings Channel reports. The fund owned 414,075 shares of the company’s stock after acquiring an additional 90,861 shares during the quarter. Empowered Funds LLC’s holdings in NU were worth $5,950,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of NU by 63.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after purchasing an additional 1,464 shares during the last quarter. Jump Financial LLC raised its holdings in shares of NU by 541.8% in the 2nd quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock valued at $2,544,000 after purchasing an additional 156,539 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of NU by 38.5% during the 2nd quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock worth $510,000 after purchasing an additional 10,332 shares during the last quarter. AXA S.A. lifted its position in shares of NU by 1.4% during the 2nd quarter. AXA S.A. now owns 192,311 shares of the company’s stock worth $2,639,000 after purchasing an additional 2,682 shares during the last quarter. Finally, Nebula Research & Development LLC grew its stake in shares of NU by 63.7% during the second quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock worth $274,000 after purchasing an additional 7,760 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Insider Activity

In related news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were 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. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

NU Trading Down 1.0%

NYSE:NU opened at $14.35 on Friday. The stock has a fifty day moving average price of $13.19 and a two-hundred day moving average price of $14.58. The stock has a market capitalization of $69.65 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.57 and a beta of 0.95. 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 Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98.

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

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

Analyst Upgrades and Downgrades

NU has been the topic of several recent analyst reports. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Needham & Company LLC started coverage on NU in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 price objective for the company. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. CICC Research initiated coverage on NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, UBS Group cut their target price 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 investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NU currently has an average rating of “Moderate Buy” and an average price target of $17.24.

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.