XP Inc. $XP Stake Decreased by Absolute Gestao de Investimentos Ltda.

Absolute Gestao de Investimentos Ltda. trimmed its holdings in XP Inc. (NASDAQ:XP) by 74.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,578 shares of the company’s stock after selling 1,678,279 shares during the quarter. XP comprises 1.3% of Absolute Gestao de Investimentos Ltda.’s portfolio, making the stock its 22nd largest holding. Absolute Gestao de Investimentos Ltda. owned about 0.11% of XP worth $11,130,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in XP. EverSource Wealth Advisors LLC raised its stake in XP by 65.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $33,000 after acquiring an additional 646 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of XP in the fourth quarter worth $34,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of XP by 1,783.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,825 shares of the company’s stock valued at $53,000 after purchasing an additional 2,675 shares during the period. Parallel Advisors LLC increased its holdings in shares of XP by 117.3% during the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after purchasing an additional 1,775 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of XP during the fourth quarter valued at about $55,000. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Price Performance

NASDAQ XP opened at $16.69 on Friday. The stock’s 50-day moving average price is $16.30 and its two-hundred day moving average price is $18.29. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.02. The company has a market cap of $8.97 billion, a PE ratio of 9.22, a PEG ratio of 0.59 and a beta of 1.10. XP Inc. has a 1 year low of $14.80 and a 1 year high of $23.13.

XP announced that its Board of Directors has approved a share buyback program on Tuesday, May 19th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

XP Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. UBS Group decreased their price target 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, Zacks Research cut XP from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

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.