Y Intercept Hong Kong Ltd Takes Position in XP Inc. $XP

Y Intercept Hong Kong Ltd bought a new position in shares of XP Inc. (NASDAQ:XP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,028 shares of the company’s stock, valued at approximately $610,000.

Several other large investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in XP by 65.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after buying an additional 646 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of XP during the 4th quarter worth about $34,000. Caitong International Asset Management Co. Ltd boosted its position in shares of XP by 1,783.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock worth $53,000 after acquiring an additional 2,675 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of XP in the 4th quarter valued at about $55,000. Finally, Vestcor Inc purchased a new position in shares of XP in the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

XP Stock Performance

NASDAQ XP opened at $16.37 on Tuesday. The company has a fifty day moving average of $16.59 and a two-hundred day moving average of $18.28. The company has a market capitalization of $8.80 billion, a PE ratio of 9.04, a P/E/G ratio of 0.60 and a beta of 1.10. XP Inc. has a 1 year low of $14.80 and a 1 year high of $23.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66.

XP declared that its board has approved 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 buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

XP Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were given a $0.20 dividend. This is a boost from XP’s previous annual dividend of $0.18. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a dividend yield of 268.0%. XP’s payout ratio is currently 22.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised XP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group cut their price objective 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, XP has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

XP 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.