XP Sees Unusually Large Options Volume (NASDAQ:XP)

XP Inc. (NASDAQ:XP) was the target of some unusual options trading on Thursday. Stock investors bought 23,738 put options on the company. This is an increase of 11% compared to the typical volume of 21,350 put options.

XP Stock Performance

XP traded down $1.43 during trading on Thursday, hitting $28.99. 4,765,503 shares of the company traded hands, compared to its average volume of 6,697,627. XP has a one year low of $14.80 and a one year high of $32.73. The stock’s fifty day moving average is $21.98 and its 200 day moving average is $18.96. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 0.07. The firm has a market cap of $15.58 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 0.84 and a beta of 1.01.

XP (NASDAQ:XP) last announced its quarterly earnings data on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $943.55 million for the quarter, compared to analyst estimates of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 earnings per share. As a group, equities analysts predict that XP will post 2.09 EPS for the current fiscal year.

Insider Activity at XP

In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total transaction of $2,413,372.06. Following the completion of the sale, the director owned 1,500,000 shares in the company, valued at $29,370,000. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On XP

A number of hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in XP in the first quarter valued at approximately $3,071,000. Lazard Asset Management LLC lifted its position in shares of XP by 244.9% during the 1st quarter. Lazard Asset Management LLC now owns 206,689 shares of the company’s stock valued at $3,935,000 after buying an additional 146,763 shares during the last quarter. National Pension Service lifted its position in shares of XP by 94.1% during the 2nd quarter. National Pension Service now owns 207,699 shares of the company’s stock valued at $3,377,000 after buying an additional 100,677 shares during the last quarter. Verde Servicos Internacionais S.A. bought a new position in shares of XP during the 1st quarter worth $3,216,000. Finally, Quantinno Capital Management LP grew its stake in shares of XP by 44.9% during the 1st quarter. Quantinno Capital Management LP now owns 209,252 shares of the company’s stock worth $3,984,000 after acquiring an additional 64,829 shares during the period. Institutional investors own 59.15% of the company’s stock.

Wall Street Analysts Forecast Growth

XP has been the topic of several analyst reports. Weiss Ratings upgraded shares of XP from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. lifted their target price on shares of XP from $26.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Itau BBA Securities upgraded XP from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Monday, August 31st. UBS Group upped their target price on XP from $25.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Finally, Citigroup upped their target price on XP from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.80.

XP Company Profile

XP Inc is a Brazilian financial services company that operates a technology-driven investment and financial products platform. Through its digital channels and network of advisors, the company offers access to products including stocks, bonds, investment funds, exchange-traded funds, insurance and retirement products. It serves individual investors, businesses, institutional clients and independent financial advisors.

The company’s principal brands and businesses include XP, Rico and Clear, which provide brokerage and investment services to different customer segments.