Navi International Administradora e Gestora de Recursos Financeiros Ltda. Sells 840,965 Shares of XP Inc. $XP

Key Points

• Navi International cut its XP stake by 31.4%, selling 840,965 shares in the second quarter. It still held 1.84 million shares valued at approximately $29.9 million, representing 20.6% of its portfolio.
• XP reported quarterly earnings of $0.53 per share, exceeding analyst expectations of $0.50, while revenue reached $943.6 million and rose 8.3% year over year.
• Analysts maintain a “Moderate Buy” consensus on XP, with a $23 average price target versus the reported share price of $19.86; institutional investors and hedge funds own 59.15% of the stock.

Navi International Administradora e Gestora de Recursos Financeiros Ltda. lessened its position in shares of XP Inc. (NASDAQ:XP - Free Report) by 31.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,837,985 shares of the company's stock after selling 840,965 shares during the period. XP makes up 20.6% of Navi International Administradora e Gestora de Recursos Financeiros Ltda.'s portfolio, making the stock its 2nd biggest position. Navi International Administradora e Gestora de Recursos Financeiros Ltda. owned about 0.34% of XP worth $29,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in XP by 29.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,119 shares of the company's stock worth $7,396,000 after purchasing an additional 104,395 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in XP during the first quarter valued at approximately $3,071,000. Lazard Asset Management LLC grew its stake in XP by 244.9% during the first quarter. Lazard Asset Management LLC now owns 206,689 shares of the company's stock worth $3,935,000 after buying an additional 146,763 shares during the period. Verde Servicos Internacionais S.A. purchased a new stake in XP during the first quarter worth approximately $3,216,000. Finally, Hsbc Holdings PLC grew its stake in XP by 876.6% during the first quarter. Hsbc Holdings PLC now owns 1,062,720 shares of the company's stock worth $20,179,000 after buying an additional 953,902 shares during the period. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Stock Down 0.7%

Shares of NASDAQ:XP opened at $19.86 on Friday. 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 52-week low of $14.80 and a 52-week high of $23.13. The company has a 50 day moving average of $16.85 and a two-hundred day moving average of $17.94. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.58 and a beta of 1.08.

XP (NASDAQ:XP - Get Free Report) last posted its earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. The business had revenue of $943.55 million for the quarter, compared to analysts' expectations of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 earnings per share. As a group, analysts forecast that XP Inc. will post 2.11 earnings per share for the current fiscal year.

XP declared that its Board of Directors has approved a share repurchase program on Tuesday, May 19th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in 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 report on Wednesday, June 3rd. Itau BBA Securities upgraded XP from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Monday. Finally, Weiss Ratings raised XP from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.00.

XP Company Profile

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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