Squarepoint Ops LLC Purchases 75,114 Shares of XP Inc. $XP

Key Points

• Squarepoint Ops LLC increased its XP stake by 83.3% in the second quarter, purchasing 75,114 additional shares and bringing its holdings to 165,235 shares valued at approximately $2.69 million. Institutional investors collectively own 59.15% of XP.
• XP reported quarterly EPS of $0.53, exceeding the $0.50 consensus estimate, while revenue rose 8.3% year over year to $943.55 million. Analysts expect full-year EPS of $2.07.
• XP shares opened at $19.86, compared with a consensus analyst price target of $23.00; the stock carries a “Moderate Buy” consensus rating from four Buy and two Hold recommendations.

Squarepoint Ops LLC increased its position in shares of XP Inc. (NASDAQ:XP - Free Report) by 83.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,235 shares of the company's stock after buying an additional 75,114 shares during the period. Squarepoint Ops LLC's holdings in XP were worth $2,687,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of XP by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company's stock worth $227,000 after purchasing an additional 573 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in XP by 65.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company's stock worth $33,000 after acquiring an additional 646 shares during the period. SummitTX Capital L.P. raised its stake in XP by 2.8% during the 4th quarter. SummitTX Capital L.P. now owns 30,978 shares of the company's stock valued at $507,000 after purchasing an additional 857 shares during the last quarter. California State Teachers Retirement System grew its position in XP by 1.6% in the 3rd quarter. California State Teachers Retirement System now owns 54,107 shares of the company's stock worth $1,017,000 after purchasing an additional 866 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of XP by 1.0% during the 1st quarter. Inspire Investing LLC now owns 89,121 shares of the company's stock worth $1,697,000 after purchasing an additional 906 shares during the period. Institutional investors own 59.15% of the company's stock.

XP Price Performance

XP stock opened at $19.86 on Monday. The business has a 50 day simple moving average of $17.21 and a 200 day simple moving average of $17.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.80 and a quick ratio of 4.80. The company has a market capitalization of $10.67 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08. XP Inc. has a one year low of $14.80 and a one year high of $23.13.

XP (NASDAQ:XP - Get Free Report) last released its quarterly earnings data 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. XP had a return on equity of 22.19% and a net margin of 27.20%.The firm had revenue of $943.55 million during the quarter, compared to analyst estimates of $935.15 million. During the same period in the prior year, the company posted $2.46 earnings per share. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that XP Inc. will post 2.07 EPS for the current fiscal year.

XP declared that its board has initiated a share repurchase plan on Tuesday, May 19th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on XP. Itau BBA Securities upgraded XP from a "market perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research note on Monday, August 31st. UBS Group reduced their target price on XP from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of XP from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 2nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

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.

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