XP (NASDAQ:XP) Trading Up 5.1% – Here’s What Happened

XP Inc. (NASDAQ:XP)’s share price traded up 5.1% during trading on Thursday . The stock traded as high as $19.88 and last traded at $20.0160. 2,030,161 shares were traded during trading, a decline of 66% from the average session volume of 5,982,065 shares. The stock had previously closed at $19.04.

Analyst Ratings Changes

A number of research firms recently weighed in on XP. Itau BBA Securities raised shares of 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. Weiss Ratings raised shares of 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 shares of XP from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, XP currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

XP Stock Down 0.6%

The firm has a 50 day simple moving average of $17.21 and a two-hundred day simple moving average of $17.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.80 and a current ratio of 4.80. The stock 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.

XP (NASDAQ:XP) last released its quarterly earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $943.55 million during the quarter, compared to analysts’ expectations of $935.15 million. XP had a return on equity of 22.19% and a net margin of 27.20%.The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.46 earnings per share. Equities research analysts predict that XP Inc. will post 2.07 earnings per share for the current year.

XP announced that its board has authorized a stock repurchase program on Tuesday, May 19th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On XP

Several large investors have recently bought and sold shares of XP. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in XP during the first quarter worth approximately $3,071,000. Lazard Asset Management LLC boosted its stake in XP by 244.9% during the 1st quarter. Lazard Asset Management LLC now owns 206,689 shares of the company’s stock valued at $3,935,000 after purchasing an additional 146,763 shares in the last quarter. Verde Servicos Internacionais S.A. bought a new position in XP during the 1st quarter valued at $3,216,000. Quantinno Capital Management LP increased its position in shares of XP by 44.9% during the 1st quarter. Quantinno Capital Management LP now owns 209,252 shares of the company’s stock valued at $3,984,000 after purchasing an additional 64,829 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of XP by 876.6% during the 1st quarter. Hsbc Holdings PLC now owns 1,062,720 shares of the company’s stock valued at $20,179,000 after purchasing an additional 953,902 shares during the period. Institutional investors and hedge funds own 59.15% of the company’s stock.

XP Company Profile

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.