Quadrature Capital Ltd acquired a new stake in shares of XP Inc. (NYSE:XP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,100 shares of the company’s stock, valued at approximately $1,055,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in XP. UBS Group AG purchased a new position in shares of XP during the fourth quarter valued at approximately $38,000. Citigroup Inc. purchased a new position in shares of XP during the first quarter valued at approximately $38,000. Pendal Group Ltd purchased a new position in shares of XP during the first quarter valued at approximately $193,000. Miracle Mile Advisors LLC purchased a new position in shares of XP during the second quarter valued at approximately $342,000. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of XP during the first quarter valued at approximately $358,000.
Shares of XP traded down $1.08 during mid-day trading on Friday, reaching $46.81. The stock had a trading volume of 1,586,100 shares, compared to its average volume of 1,606,740. XP Inc. has a 12 month low of $15.50 and a 12 month high of $52.94. The business has a fifty day moving average of $46.43 and a 200 day moving average of $35.48.
Several research analysts have recently weighed in on XP shares. JPMorgan Chase & Co. cut shares of XP from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $33.00 to $28.00 in a report on Monday, June 1st. Citigroup assumed coverage on shares of XP in a report on Friday, August 14th. They set a “buy” rating and a $56.00 target price for the company. Zacks Investment Research cut shares of XP from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Credit Suisse Group cut shares of XP from a “neutral” rating to an “underperform” rating and upped their target price for the company from $22.00 to $40.00 in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. XP presently has a consensus rating of “Hold” and a consensus target price of $39.50.
XP Inc operates technology-driven financial services platform that provides financial products and services in Brazil. It provides broker-dealer services for high-net worth customers and institutional clients; 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 clients.
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