Itau BBA Securities Downgrades NU (NYSE:NU) to Market Perform

Itau BBA Securities cut shares of NU (NYSE:NU) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat Ratings reports.

Several other brokerages also recently issued reports on NU. JPMorgan Chase & Co. increased their price objective on NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Barclays raised their price target on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. UBS Group lowered shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective for the company. in a research report on Friday, August 2nd. KeyCorp raised their target price on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Bank of America increased 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. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.21.

NU Price Performance

NU stock opened at $14.06 on Thursday. The stock’s 50 day moving average price is $14.48 and its 200 day moving average price is $13.22. The firm has a market cap of $67.01 billion, a P/E ratio of 39.06, a PEG ratio of 0.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.44. NU has a 1 year low of $7.74 and a 1 year high of $16.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NU. Massmutual Trust Co. FSB ADV raised its holdings in shares of NU by 287.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock worth $26,000 after purchasing an additional 1,422 shares during the period. GAMMA Investing LLC raised its holdings in NU by 56.2% in the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock valued at $29,000 after buying an additional 815 shares during the period. Carolina Wealth Advisors LLC acquired a new position in NU during the third quarter valued at approximately $44,000. Toth Financial Advisory Corp purchased a new stake in NU during the third quarter worth approximately $55,000. Finally, ORG Partners LLC acquired a new stake in shares of NU in the second quarter worth $54,000. Institutional investors and hedge funds own 80.90% of the company’s stock.

NU Company Profile

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.