WINTON GROUP Ltd cut its stake in XP Inc. (NASDAQ:XP – Free Report) by 79.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,400 shares of the company’s stock after selling 282,102 shares during the quarter. WINTON GROUP Ltd’s holdings in XP were worth $1,161,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of XP. EverSource Wealth Advisors LLC grew its stake in XP by 65.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after buying an additional 646 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in XP by 1,783.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after acquiring an additional 2,675 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in XP during the fourth quarter worth approximately $55,000. Parallel Advisors LLC boosted its holdings in shares of XP by 117.3% during the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after acquiring an additional 1,775 shares during the period. Finally, Vestcor Inc bought a new stake in shares of XP during the third quarter worth approximately $64,000. Institutional investors own 59.15% of the company’s stock.
XP Price Performance
Shares of XP opened at $19.86 on Monday. XP Inc. has a one year low of $14.80 and a one year high of $23.13. The company has a market cap of $10.67 billion, a P/E ratio of 10.40, a P/E/G ratio of 0.54 and a beta of 1.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.80 and a quick ratio of 4.80. The firm has a 50 day simple moving average of $17.21 and a two-hundred day simple moving average of $17.87.
XP declared that its board has initiated a share buyback plan on Tuesday, May 19th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. UBS Group lowered their target price on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings raised XP from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Finally, Itau BBA Securities raised XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.00.
Get Our Latest Stock Report on XP
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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