Coronation Fund Managers Ltd. Trims Stock Position in Nu Holdings Ltd. (NYSE:NU)

Coronation Fund Managers Ltd. trimmed its position in Nu Holdings Ltd. (NYSE:NU) by 40.0% in the third quarter, Holdings Channel.com reports. The fund owned 4,487,302 shares of the company’s stock after selling 2,989,876 shares during the period. NU makes up approximately 3.4% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 8th largest position. Coronation Fund Managers Ltd.’s holdings in NU were worth $61,252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its stake in NU by 287.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock worth $26,000 after acquiring an additional 1,422 shares during the period. GAMMA Investing LLC raised its position in shares of NU by 56.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $29,000 after purchasing an additional 815 shares during the period. Carolina Wealth Advisors LLC acquired a new stake in shares of NU during the 3rd quarter worth approximately $44,000. ORG Partners LLC acquired a new position in NU during the 2nd quarter valued at approximately $54,000. Finally, Toth Financial Advisory Corp acquired a new position in NU during the 3rd quarter valued at approximately $55,000. 80.90% of the stock is owned by institutional investors and hedge funds.

NU Stock Down 5.0 %

Shares of NU stock opened at $14.34 on Friday. The business’s fifty day moving average price is $14.35 and its two-hundred day moving average price is $12.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $68.34 billion, a P/E ratio of 46.26, a PEG ratio of 0.69 and a beta of 1.13. Nu Holdings Ltd. has a 1-year low of $7.74 and a 1-year high of $15.98.

NU (NYSE:NU) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. NU had a return on equity of 27.00% and a net margin of 15.11%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the business earned $0.05 EPS. As a group, research analysts forecast that Nu Holdings Ltd. will post 0.41 EPS for the current year.

Wall Street Analyst Weigh In

NU has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on NU from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Barclays boosted 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. Susquehanna restated a “positive” rating and set a $16.00 price objective on shares of NU in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Bank of America boosted their price objective on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.21.

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.