Salem Investment Counselors Inc. raised its holdings in shares of Nu Holdings Ltd. (NYSE:NU – Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,303,930 shares of the company’s stock after buying an additional 151,180 shares during the period. NU comprises approximately 0.9% of Salem Investment Counselors Inc.’s investment portfolio, making the stock its 23rd biggest position. Salem Investment Counselors Inc.’s holdings in NU were worth $27,486,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new stake in NU during the fourth quarter worth approximately $52,000. UMB Bank n.a. acquired a new position in NU in the 4th quarter worth approximately $55,000. PNC Financial Services Group Inc. boosted its stake in NU by 37.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,339 shares of the company’s stock worth $60,000 after purchasing an additional 2,258 shares during the period. Seven Mile Advisory acquired a new position in NU in the 3rd quarter worth approximately $82,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in NU in the 4th quarter worth approximately $94,000. 80.90% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on NU. KeyCorp raised their price objective on shares of NU from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. TheStreet upgraded shares of NU from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Finally, Susquehanna increased their target price on shares of NU from $12.00 to $14.00 and gave the stock a “positive” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, NU presently has a consensus rating of “Moderate Buy” and an average target price of $10.74.
NU Stock Up 1.4 %
Shares of NU stock traded up $0.17 during midday trading on Friday, reaching $12.25. 49,410,401 shares of the company’s stock traded hands, compared to its average volume of 21,170,700. The company has a market cap of $58.38 billion, a price-to-earnings ratio of 47.12, a price-to-earnings-growth ratio of 0.57 and a beta of 1.13. The company’s 50 day simple moving average is $11.53 and its 200 day simple moving average is $10.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.40 and a current ratio of 0.40. Nu Holdings Ltd. has a 52 week low of $6.61 and a 52 week high of $12.49.
NU (NYSE:NU – Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.58 billion. NU had a net margin of 13.86% and a return on equity of 22.94%. Equities analysts expect that Nu Holdings Ltd. will post 0.41 earnings per share for the current fiscal year.
NU Company Profile
Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.