Wedbush Securities Inc. Increases Holdings in Nu Holdings Ltd. (NYSE:NU)

Wedbush Securities Inc. raised its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 40.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,872 shares of the company’s stock after buying an additional 6,298 shares during the period. Wedbush Securities Inc.’s holdings in NU were worth $282,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NU. Beacon Pointe Advisors LLC purchased a new stake in shares of NU in the 4th quarter worth $199,000. Great Lakes Advisors LLC bought a new position in NU in the 4th quarter worth $6,809,000. Independent Advisor Alliance bought a new position in NU in the 4th quarter worth $99,000. ING Groep NV boosted its holdings in NU by 16.5% in the 4th quarter. ING Groep NV now owns 698,400 shares of the company’s stock worth $5,818,000 after buying an additional 98,900 shares during the period. Finally, Norges Bank bought a new position in NU in the 4th quarter worth $209,534,000. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NU has been the subject of a number of research analyst reports. Barclays raised their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. UBS Group lowered NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Jefferies Financial Group lifted their price target on NU from $10.80 to $15.20 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, The Goldman Sachs Group lifted their price target on NU from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NU has an average rating of “Moderate Buy” and a consensus price target of $14.08.

NU Price Performance

NYSE NU opened at $14.74 on Friday. The firm’s fifty day simple moving average is $13.32 and its two-hundred day simple moving average is $12.26. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Nu Holdings Ltd. has a 12-month low of $6.77 and a 12-month high of $15.10. The firm has a market capitalization of $70.25 billion, a P/E ratio of 56.69, a P/E/G ratio of 0.68 and a beta of 1.17.

NU (NYSE:NU) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. NU had a net margin of 15.11% and a return on equity of 27.00%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company earned $0.05 earnings per share. Analysts forecast that Nu Holdings Ltd. will post 0.4 EPS for the current fiscal year.

About NU

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.