Granite Group Advisors LLC Cuts Stake in Nu Holdings Ltd. (NYSE:NU)

Granite Group Advisors LLC cut its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 21.4% during the 4th quarter, HoldingsChannel reports. The fund owned 15,429 shares of the company’s stock after selling 4,200 shares during the quarter. Granite Group Advisors LLC’s holdings in NU were worth $160,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. LRI Investments LLC lifted its position in NU by 3.1% in the third quarter. LRI Investments LLC now owns 24,983 shares of the company’s stock valued at $341,000 after purchasing an additional 743 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of NU by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 26,517 shares of the company’s stock worth $362,000 after buying an additional 801 shares during the period. Marcum Wealth LLC boosted its position in NU by 2.5% during the 3rd quarter. Marcum Wealth LLC now owns 37,221 shares of the company’s stock valued at $508,000 after buying an additional 903 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in NU by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 69,110 shares of the company’s stock worth $716,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its position in shares of NU by 2.0% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 52,245 shares of the company’s stock valued at $579,000 after acquiring an additional 1,000 shares during the period. 84.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NU. The Goldman Sachs Group raised their target price on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup lowered NU from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $14.60 to $11.00 in a research report on Monday, December 2nd. KeyCorp upped their target price on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Finally, Susquehanna upped their price objective on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.63.

NU Stock Up 1.3 %

Shares of NU stock opened at $12.35 on Monday. Nu Holdings Ltd. has a 1 year low of $8.51 and a 1 year high of $16.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. The company has a 50-day moving average of $11.71 and a 200 day moving average of $13.14. The firm has a market cap of $58.84 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 0.43 and a beta of 1.05.

NU Company Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.