Share Repurchase Program Approved by NU (NYSE:NU) Board

NU (NYSE:NU) announced that its board has initiated a stock buyback program on Thursday, June 4th, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NU. CICC Research began coverage on shares of NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Itau BBA Securities reissued an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Bank of America reissued an “underperform” rating on shares of NU in a report on Tuesday. Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $13.00 in a report on Wednesday. Finally, Zacks Research lowered shares of NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.08.

NU Trading Up 4.3%

Shares of NYSE:NU traded up $0.51 on Thursday, reaching $12.15. 69,153,246 shares of the company traded hands, compared to its average volume of 67,131,752. The business’s 50-day simple moving average is $13.84 and its 200 day simple moving average is $15.55. NU has a 52 week low of $11.20 and a 52 week high of $18.98. The stock has a market capitalization of $58.97 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 0.46 and a beta of 0.95. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.

NU (NYSE:NU) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. As a group, equities analysts anticipate that NU will post 0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other NU news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the sale, the chief executive officer owned 2,312,338 shares of the company’s stock, valued at $34,245,725.78. This trade represents a 11.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the sale, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by company insiders.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.