XP Inc. (NASDAQ:XP – Get Free Report) saw strong trading volume on Wednesday . Approximately 11,737,971 shares changed hands during mid-day trading, an increase of 98% from the previous session’s volume of 5,919,440 shares.The stock last traded at $18.9680 and had previously closed at $19.99.
Analyst Ratings Changes
Several research firms have commented on XP. Itau BBA Securities upgraded shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Monday, August 31st. Weiss Ratings upgraded XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Finally, UBS Group decreased their target price on XP from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, XP presently has an average rating of “Moderate Buy” and an average price target of $23.00.
Read Our Latest Stock Analysis on XP
XP Trading Up 4.9%
XP (NASDAQ:XP – Get Free Report) last posted its quarterly earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. XP had a net margin of 27.20% and a return on equity of 22.19%. The company had revenue of $943.55 million during the quarter, compared to analysts’ expectations of $935.15 million. During the same quarter in the previous year, the business posted $2.46 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. On average, research analysts predict that XP Inc. will post 2.07 EPS for the current fiscal year.
XP declared that its Board of Directors has approved a share repurchase program on Tuesday, May 19th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Institutional Trading of XP
Hedge funds and other institutional investors have recently bought and sold shares of the business. Orbis Allan Gray Ltd acquired a new stake in shares of XP during the second quarter worth about $161,639,000. Norges Bank acquired a new stake in shares of XP in the 4th quarter valued at about $80,196,000. AQR Capital Management LLC boosted its position in shares of XP by 1,433.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,336,183 shares of the company’s stock valued at $67,391,000 after purchasing an additional 3,118,626 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in XP during the 4th quarter worth approximately $39,145,000. Finally, SPX Gestao de Recursos Ltda increased its position in XP by 109.7% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 4,195,379 shares of the company’s stock worth $68,678,000 after buying an additional 2,195,087 shares during the period. 59.15% of the stock is currently owned by institutional investors and hedge funds.
About XP
XP Inc (NASDAQ: XP) is a Brazilian financial services company that operates an investment platform serving individual investors, financial advisors, corporations and institutional clients. Through its platform and affiliated brands, the company provides access to a broad range of financial products and investment solutions.
Its services include brokerage and custody, investment advisory, portfolio management, banking and credit products, insurance, retirement solutions and financial education.
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