Engineers Gate Manager LP Purchases 103,990 Shares of XP Inc. $XP

Engineers Gate Manager LP grew its position in XP Inc. (NASDAQ:XP) by 161.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 168,230 shares of the company’s stock after acquiring an additional 103,990 shares during the period. Engineers Gate Manager LP’s holdings in XP were worth $2,735,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in XP. Healthcare of Ontario Pension Plan Trust Fund bought a new position in XP during the first quarter worth about $3,071,000. Lazard Asset Management LLC grew its stake in XP by 244.9% in the first quarter. Lazard Asset Management LLC now owns 206,689 shares of the company’s stock valued at $3,935,000 after acquiring an additional 146,763 shares during the period. Verde Servicos Internacionais S.A. bought a new stake in shares of XP in the first quarter worth about $3,216,000. Quantinno Capital Management LP increased its holdings in shares of XP by 44.9% in the first quarter. Quantinno Capital Management LP now owns 209,252 shares of the company’s stock worth $3,984,000 after acquiring an additional 64,829 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of XP by 876.6% in the first quarter. Hsbc Holdings PLC now owns 1,062,720 shares of the company’s stock worth $20,179,000 after acquiring an additional 953,902 shares in the last quarter. Institutional investors own 59.15% of the company’s stock.

Analyst Ratings Changes

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

XP Price Performance

Shares of NASDAQ XP opened at $19.59 on Tuesday. The firm has a market cap of $10.53 billion, a PE ratio of 10.26, a PEG ratio of 0.54 and a beta of 1.08. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 0.07. XP Inc. has a 1-year low of $14.80 and a 1-year high of $23.13. The company has a fifty day moving average price of $17.27 and a 200 day moving average price of $17.85.

XP (NASDAQ:XP) last released its quarterly earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) 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 the consensus estimate of $935.15 million. During the same quarter last year, the business posted $2.46 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts predict that XP Inc. will post 2.07 earnings per share for the current fiscal year.

XP announced that its Board of Directors has initiated a share buyback plan 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. Shares repurchase plans are generally an indication that the company’s board 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.