Crossmark Global Holdings Inc. Trims Stock Position in XP Inc. $XP

Crossmark Global Holdings Inc. cut its holdings in XP Inc. (NASDAQ:XP) by 53.0% during the fourth quarter, HoldingsChannel reports. The fund owned 361,263 shares of the company’s stock after selling 406,814 shares during the period. Crossmark Global Holdings Inc.’s holdings in XP were worth $5,914,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in XP. Ethic Inc. raised its position in XP by 32.0% in the fourth quarter. Ethic Inc. now owns 44,060 shares of the company’s stock valued at $721,000 after purchasing an additional 10,676 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of XP by 29.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,119 shares of the company’s stock worth $7,396,000 after purchasing an additional 104,395 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in XP by 17.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,368 shares of the company’s stock valued at $350,000 after buying an additional 3,236 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in XP in the 4th quarter valued at about $1,375,000. Finally, Wealth High Governance Capital Ltda acquired a new position in XP in the fourth quarter valued at about $9,990,000. 59.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XP has been the subject of several research analyst reports. Zacks Research lowered shares of XP from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Jefferies Financial Group assumed coverage on shares of XP in a report on Monday, January 19th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, UBS Group increased their price objective on shares of XP from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.86.

XP Price Performance

XP opened at $19.17 on Monday. The stock’s 50-day moving average price is $19.61 and its 200 day moving average price is $18.81. XP Inc. has a 12-month low of $15.61 and a 12-month high of $23.13. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.61 and a beta of 1.17. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01.

XP (NASDAQ:XP) last released its earnings results on Friday, February 13th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $806.08 million during the quarter. XP had a return on equity of 23.08% and a net margin of 27.51%.The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. As a group, sell-side analysts expect that XP Inc. will post 2.06 earnings per share for the current year.

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.