Matthews International Capital Management LLC Sells 218,054 Shares of XP Inc. $XP

Key Points

• Matthews International Capital Management cut its stake in XP by 68.1%, selling 218,054 shares in Q4 and finishing the quarter with 101,999 shares worth about $1.67 million.
• XP beat Q4 EPS estimates ($0.46 vs. $0.45) with revenue up 10.3% YoY, a 27.5% net margin and a PE of 11.41; analysts rate the stock a "Moderate Buy" on average with a $22.86 target and UBS at $28.

Matthews International Capital Management LLC reduced its stake in shares of XP Inc. (NASDAQ:XP - Free Report) by 68.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,999 shares of the company's stock after selling 218,054 shares during the quarter. Matthews International Capital Management LLC's holdings in XP were worth $1,670,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Ninety One UK Ltd grew its stake in shares of XP by 9.4% during the fourth quarter. Ninety One UK Ltd now owns 6,186,576 shares of the company's stock valued at $101,274,000 after purchasing an additional 533,952 shares during the last quarter. Ninety One North America Inc. grew its stake in shares of XP by 15.8% during the fourth quarter. Ninety One North America Inc. now owns 1,435,950 shares of the company's stock valued at $23,507,000 after purchasing an additional 195,948 shares during the last quarter. KBC Group NV grew its stake in shares of XP by 37.4% during the fourth quarter. KBC Group NV now owns 171,436 shares of the company's stock valued at $2,806,000 after purchasing an additional 46,651 shares during the last quarter. Tandem Capital Management Corp ADV grew its stake in shares of XP by 25.9% during the fourth quarter. Tandem Capital Management Corp ADV now owns 20,203 shares of the company's stock valued at $331,000 after purchasing an additional 4,150 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of XP by 3.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 799,887 shares of the company's stock valued at $13,094,000 after purchasing an additional 24,614 shares during the last quarter. 59.15% of the stock is owned by institutional investors.

XP Price Performance

XP opened at $19.74 on Friday. The company has a fifty day moving average price of $19.90 and a two-hundred day moving average price of $18.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.12 and a current ratio of 5.36. XP Inc. has a 52 week low of $15.51 and a 52 week high of $23.13. The firm has a market capitalization of $10.61 billion, a PE ratio of 11.41, a P/E/G ratio of 0.63 and a beta of 1.26.

XP (NASDAQ:XP - Get Free Report) last released its earnings results on Friday, February 13th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. XP had a net margin of 27.51% and a return on equity of 23.08%. The firm had revenue of $806.08 million during the quarter. During the same period in the prior year, the firm posted $2.23 EPS. XP's revenue was up 10.3% on a year-over-year basis. As a group, analysts anticipate that XP Inc. will post 2.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

XP has been the topic of several research analyst reports. Zacks Research raised shares of XP from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Jefferies Financial Group initiated coverage on shares of XP in a research note on Monday, January 19th. They set a "buy" rating and a $22.00 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of XP in a research note on Monday, December 29th. Finally, UBS Group increased their price target on shares of XP from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, XP has an average rating of "Moderate Buy" and an average target price of $22.86.

About XP

XP Inc provides financial products and services in Brazil. It offers securities brokerage, private pension plans, commercial, and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth customers and institutional clients.

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