Nu Holdings Ltd. (NYSE:NU) Short Interest Up 23.6% in July

Nu Holdings Ltd. (NYSE:NU) saw a significant increase in short interest in July. As of July 15th, there was short interest totalling 92,600,000 shares, an increase of 23.6% from the June 30th total of 74,930,000 shares. Based on an average daily volume of 26,210,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.1% of the company’s stock are short sold.

Hedge Funds Weigh In On NU

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WCM Investment Management LLC boosted its position in shares of NU by 1,157.4% during the first quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock worth $1,192,590,000 after buying an additional 92,015,719 shares during the period. Baillie Gifford & Co. boosted its position in shares of NU by 47.6% during the first quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock worth $2,021,540,000 after buying an additional 54,681,625 shares during the period. Sands Capital Management LLC boosted its position in shares of NU by 92.7% during the fourth quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock worth $709,888,000 after buying an additional 40,992,413 shares during the period. Jennison Associates LLC boosted its position in shares of NU by 160.9% during the fourth quarter. Jennison Associates LLC now owns 65,813,072 shares of the company’s stock worth $548,223,000 after buying an additional 40,584,189 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of NU by 20.7% during the fourth quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock worth $1,459,403,000 after buying an additional 30,002,685 shares during the period. 80.90% of the stock is currently owned by institutional investors and hedge funds.

NU Stock Performance

NU stock traded up $0.01 during midday trading on Tuesday, reaching $12.23. The company had a trading volume of 2,142,015 shares, compared to its average volume of 28,486,453. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $12.34 and a 200 day moving average price of $11.36. NU has a fifty-two week low of $6.61 and a fifty-two week high of $13.64. The firm has a market capitalization of $58.29 billion, a PE ratio of 46.98, a P/E/G ratio of 0.58 and a beta of 1.14.

NU (NYSE:NU) last issued its earnings results on Tuesday, May 14th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. NU had a return on equity of 22.94% and a net margin of 13.86%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.58 billion. Analysts anticipate that NU will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group boosted their price objective on NU from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group boosted their price objective on NU from $10.80 to $15.20 and gave the stock a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. lowered NU from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $14.50 in a research report on Monday, July 22nd. KeyCorp lifted their target price on NU from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Barclays initiated coverage on NU in a research report on Wednesday, June 26th. They set an “overweight” rating and a $15.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.98.

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.