Morse Asset Management Inc Boosts Stake in Nu Holdings Ltd. (NYSE:NU)

Morse Asset Management Inc grew its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 186.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,350 shares of the company’s stock after buying an additional 22,350 shares during the period. Morse Asset Management Inc’s holdings in NU were worth $443,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in 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 in the last quarter. ORG Partners LLC acquired a new position in shares of NU in the second quarter valued at approximately $54,000. Opal Wealth Advisors LLC purchased a new position in shares of NU during the second quarter valued at approximately $88,000. LRI Investments LLC acquired a new stake in NU during the first quarter worth approximately $91,000. Finally, Allspring Global Investments Holdings LLC boosted its position in NU by 179.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,841 shares of the company’s stock worth $105,000 after acquiring an additional 5,672 shares during the last quarter. 80.90% of the stock is owned by institutional investors and hedge funds.

NU Stock Down 1.1 %

NU opened at $14.63 on Monday. Nu Holdings Ltd. has a 1 year low of $6.77 and a 1 year high of $15.16. The firm has a 50 day moving average price of $13.49 and a 200 day moving average price of $12.40. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $69.73 billion, a PE ratio of 56.27, a price-to-earnings-growth ratio of 0.68 and a beta of 1.17.

NU (NYSE:NU) last released its quarterly earnings data 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 company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. NU had a net margin of 15.11% and a return on equity of 27.00%. During the same quarter in the prior year, the business earned $0.05 earnings per share. Sell-side analysts expect that Nu Holdings Ltd. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NU shares. JPMorgan Chase & Co. increased their price target on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Barclays increased their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Bank of America raised their price target on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Jefferies Financial Group upped their price objective on shares of NU from $10.80 to $15.20 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Susquehanna reissued a “positive” rating and issued a $16.00 target price on shares of NU in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.08.

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.