ABS Direct Equity Fund LLC Buys New Position in XP Inc. $XP

ABS Direct Equity Fund LLC acquired a new position in XP Inc. (NASDAQ:XP) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 129,100 shares of the company’s stock, valued at approximately $2,458,000. XP makes up 1.9% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 18th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 in the last quarter. FNY Investment Advisers LLC purchased a new stake in XP during the 4th quarter worth about $34,000. Caitong International Asset Management Co. Ltd lifted its holdings in 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 purchasing an additional 2,675 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in XP in the 4th quarter worth about $55,000. Finally, Parallel Advisors LLC boosted its stake in XP by 117.3% in the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after purchasing an additional 1,775 shares during the period. 59.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Zacks Research lowered XP from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings raised shares of XP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, UBS Group cut their price objective on shares of XP from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.33.

XP Stock Performance

NASDAQ:XP opened at $16.69 on Monday. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 0.59 and a beta of 1.10. The business has a 50 day moving average of $16.30 and a 200 day moving average of $18.30. 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 Inc. has a 1-year low of $14.80 and a 1-year high of $23.13.

XP Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th were paid a $0.20 dividend. This is a positive change 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 dividend payout ratio is currently 22.10%.

XP declared that its Board of Directors has approved a share repurchase program on Tuesday, May 19th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

XP Company 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.