XP (NASDAQ:XP) Sees Unusually-High Trading Volume – Here’s What Happened
by Jessica Moore · The Cerbat GemXP Inc. (NASDAQ:XP – Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 11,737,971 shares changed hands during trading, an increase of 98% from the previous session’s volume of 5,919,440 shares.The stock last traded at $18.9680 and had previously closed at $19.99.
Wall Street Analyst Weigh In
XP has been the subject of several research reports. Itau BBA Securities upgraded shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Monday, August 31st. Weiss Ratings upgraded XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Finally, UBS Group lowered their target price on shares of XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, XP currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.
Check Out Our Latest Stock Report on XP
XP Price Performance
The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.80 and a current ratio of 4.80. The stock has a market capitalization of $10.39 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.57 and a beta of 1.08. The firm has a 50-day moving average price of $17.00 and a 200 day moving average price of $17.92.
XP (NASDAQ:XP – Get Free Report) last released its earnings results on Monday, August 17th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $943.55 million during the quarter, compared to the consensus estimate of $935.15 million. XP had a return on equity of 22.19% and a net margin of 27.20%.XP’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. On average, analysts expect that XP Inc. will post 2.11 EPS for the current year.
XP declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 19th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Hedge Funds Weigh In On XP
Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in XP by 4.3% in 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 period. EverSource Wealth Advisors LLC boosted 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 valued at $33,000 after buying an additional 646 shares during the period. SummitTX Capital L.P. grew its stake in shares of XP by 2.8% during the fourth quarter. SummitTX Capital L.P. now owns 30,978 shares of the company’s stock valued at $507,000 after buying an additional 857 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of XP by 1.6% during the third quarter. California State Teachers Retirement System now owns 54,107 shares of the company’s stock valued at $1,017,000 after buying an additional 866 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of XP by 1.0% in the first quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock worth $1,697,000 after buying an additional 906 shares during the period. Institutional investors own 59.15% of the company’s stock.
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.