XPEL, Inc. (NASDAQ:XPEL) Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp reduced its stake in XPEL, Inc. by 6.6%, selling 10,025 shares during the first quarter, and now holds 0.51% of the company worth approximately $4.14 million.
• Several institutional investors have increased their holdings in XPEL, with significant increases from GAMMA Investing LLC (308.2%) and Quantbot Technologies LP (46.0%) over the recent quarters.
• XPEL reported a strong earnings performance, with $0.31 earnings per share surpassing expectations, and initiated a $50 million share repurchase program indicating management's confidence in the stock's valuation.

Bank of New York Mellon Corp lessened its holdings in XPEL, Inc. (NASDAQ:XPEL - Free Report) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 140,925 shares of the company's stock after selling 10,025 shares during the quarter. Bank of New York Mellon Corp owned 0.51% of XPEL worth $4,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Schwartz Investment Counsel Inc. raised its holdings in XPEL by 44.2% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 774,339 shares of the company's stock valued at $22,750,000 after buying an additional 237,339 shares during the last quarter. Mirabella Financial Services LLP bought a new position in shares of XPEL in the 4th quarter worth $8,855,000. GAMMA Investing LLC lifted its stake in XPEL by 11,892.7% during the 1st quarter. GAMMA Investing LLC now owns 98,100 shares of the company's stock valued at $2,882,000 after acquiring an additional 97,282 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in XPEL by 47.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 193,046 shares of the company's stock valued at $7,714,000 after acquiring an additional 61,930 shares in the last quarter. Finally, Mawer Investment Management Ltd. raised its stake in shares of XPEL by 13.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 397,533 shares of the company's stock worth $15,877,000 after purchasing an additional 48,586 shares during the period. Institutional investors own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised XPEL from a "hold" rating to a "buy" rating in a report on Saturday, June 21st.

XPEL Stock Down 1.0%

XPEL traded down $0.36 during midday trading on Tuesday, reaching $34.22. The company had a trading volume of 18,744 shares, compared to its average volume of 204,995. XPEL, Inc. has a 1 year low of $24.25 and a 1 year high of $48.58. The business has a 50-day moving average of $36.33 and a two-hundred day moving average of $35.10. The company has a market cap of $946.70 million, a P/E ratio of 20.01 and a beta of 1.83.

XPEL (NASDAQ:XPEL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.06. The firm had revenue of $103.81 million during the quarter, compared to analyst estimates of $97.40 million. XPEL had a return on equity of 21.89% and a net margin of 10.92%. XPEL's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. On average, equities research analysts predict that XPEL, Inc. will post 1.73 EPS for the current year.

XPEL declared that its board has authorized a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

XPEL Company Profile

XPEL, Inc sells, distributes, and installs protective films and coatings worldwide. The company offers automotive surface and paint protection film, headlight protection, and automotive and architectural window films, as well as proprietary DAP software. It also provides pre-cut film products, merchandise and apparel, ceramic coatings, and tools and accessories.