Manager dispatches 35 million shares and zeroes position in ‘stock exchange newbie’

In the fourth quarter, the company added a net profit of BRL 213 million, up 36% (Image: LinkedIn/Grupo GPS)

The manager WP Xi B – Fundo De Investimento Em Participações Multiestratégia zeroed out its position in GPS (GGPS3), shows a document sent to the market this Monday (27).

According to the statement, in all, WP disposed of 35 million papers.

On the stock exchange since April 2021, GPS has practically walked sideways, with a 5% drop in the period. The number, on the other hand, can be a relief, since most companies that went public in this period totaled double-digit declines.

Since it went public, the focus has been on reinforcing its merger and acquisition strategy. Until April 2022, the group went shopping six timesadding 12 new companies to its ecosystem since its entry into stock Exchange.

In an interview with the Money Times, Marita Bernhoeftdirector of governance and investor relations at GPS, stated that the group invests in acquisitions in search of inorganic growth.

Fourth quarter for GPS

In the fourth quarter, the company added net income of R$ 213 million, up 36% and 70% above expectations by the team of analysts at the BTG Pactual. “Another set of solid results, above our expectations and consensus”, they highlighted.

For analysts, the business model is favorable with strong earning potential. “Its business model, which benefits from low capital requirements for growth, is favorable in an environment of rising cost of capital”, they add.

O BTG has a target price of BRL 23 for the paper, a potential increase of almost 91% compared to the last closing.

See the document:

Source: Moneytimes

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