Engineers Gate Manager LP Has $2.73 Million Position in XP Inc. $XP

Key Points

• Engineers Gate Manager LP increased its XP stake by 161.9% in the second quarter, holding 168,230 shares valued at approximately $2.73 million. Institutional investors and hedge funds collectively own 59.15% of XP.
• Analyst sentiment is generally positive, with four Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and a $23 average price target.
• XP reported quarterly earnings of $0.53 per share, beating estimates of $0.50, while revenue rose 8.3% year over year to $943.55 million. Shares recently opened at $19.59, below the consensus target.

Engineers Gate Manager LP increased its stake in XP Inc. (NASDAQ:XP - Free Report) by 161.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,230 shares of the company's stock after purchasing an additional 103,990 shares during the period. Engineers Gate Manager LP's holdings in XP were worth $2,735,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in shares of XP during the second quarter valued at $91,000. Squarepoint Ops LLC increased its position in XP by 83.3% in the second quarter. Squarepoint Ops LLC now owns 165,235 shares of the company's stock worth $2,687,000 after purchasing an additional 75,114 shares during the period. Corient Private Wealth LP acquired a new stake in XP in the second quarter worth about $402,000. California State Teachers Retirement System raised its holdings in XP by 1,232.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,108,363 shares of the company's stock worth $18,022,000 after purchasing an additional 1,025,185 shares during the last quarter. Finally, AXQ Capital LP raised its holdings in XP by 59.0% during the 2nd quarter. AXQ Capital LP now owns 60,929 shares of the company's stock worth $991,000 after purchasing an additional 22,600 shares during the last quarter. Institutional investors and hedge funds own 59.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on XP. UBS Group reduced their target price on shares of XP from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. Itau BBA Securities raised 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. Finally, Weiss Ratings raised shares of XP from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 2nd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

XP Stock Down 1.4%

Shares of XP stock opened at $19.59 on Tuesday. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 0.07. XP Inc. has a 12 month low of $14.80 and a 12 month high of $23.13. The business has a fifty day simple moving average of $17.27 and a 200 day simple moving average of $17.85. The stock has a market cap of $10.53 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08.

XP (NASDAQ:XP - Get Free Report) last released its earnings results on Monday, August 17th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. XP had a return on equity of 22.19% and a net margin of 27.20%.The firm had revenue of $943.55 million for the quarter, compared to analyst estimates of $935.15 million. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The company's quarterly revenue was up 8.3% on a year-over-year basis. Research analysts predict that XP Inc. will post 2.07 EPS for the current year.

XP declared that its board has authorized a stock repurchase program on Tuesday, May 19th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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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