NU (NYSE:NU) Downgraded to “Market Perform” Rating by Itau BBA Securities

Itau BBA Securities lowered shares of NU (NYSE:NU) from an outperform rating to a market perform rating in a research note issued to investors on Thursday morning, MarketBeat.com reports.

A number of other equities research analysts also recently issued reports on NU. JPMorgan Chase & Co. increased their price target on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Bank of America raised their price target on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays upped their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Susquehanna lifted their price target on NU from $16.00 to $18.00 and gave the company a “positive” rating in a research report on Thursday. Finally, KeyCorp upped their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.21.

NU Stock Performance

NU traded down $1.09 during trading hours on Thursday, hitting $14.10. The stock had a trading volume of 46,030,177 shares, compared to its average volume of 32,270,174. The stock has a market cap of $67.20 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 0.71 and a beta of 1.13. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $14.47 and its 200 day simple moving average is $13.19. NU has a 1 year low of $7.74 and a 1 year high of $16.15.

NU (NYSE:NU) last posted its 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. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.90 billion. NU had a return on equity of 29.70% and a net margin of 16.28%. During the same quarter in the prior year, the business posted $0.05 earnings per share. Equities analysts anticipate that NU will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On NU

A number of institutional investors and hedge funds have recently modified their holdings of NU. State Street Corp increased its holdings in NU by 105.9% during the third quarter. State Street Corp now owns 78,865,138 shares of the company’s stock valued at $1,076,509,000 after buying an additional 40,560,986 shares during the last quarter. Stifel Financial Corp increased its stake in shares of NU by 8.5% in the 3rd quarter. Stifel Financial Corp now owns 1,177,480 shares of the company’s stock worth $16,073,000 after purchasing an additional 92,475 shares in the last quarter. Quantinno Capital Management LP raised its holdings in NU by 112.5% in the 3rd quarter. Quantinno Capital Management LP now owns 64,156 shares of the company’s stock worth $876,000 after purchasing an additional 33,968 shares during the period. Quarry LP grew its holdings in NU by 104.8% during the third quarter. Quarry LP now owns 7,890 shares of the company’s stock valued at $108,000 after purchasing an additional 4,037 shares during the period. Finally, Royal London Asset Management Ltd. increased its position in NU by 6.2% in the third quarter. Royal London Asset Management Ltd. now owns 1,305,453 shares of the company’s stock worth $17,819,000 after buying an additional 76,009 shares in the last quarter. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

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.