VINP Rallies 21% in a Month as Options Traders Pile into Calls

Vinci Compass Investments has climbed 21% over the past month to $11.25, yet the options market is telling an unusually bullish story even by its own recent standards.

The options angle is the sharpest signal this week. The put/call ratio has collapsed to 0.024, nearly 1.6 standard deviations below its 20-day average of 0.31. That is the most call-heavy reading of the past year, well below the 52-week low of 0.0 and far from the 52-week high of 1.10. For a stock that spent most of September and early October with a PCR above 0.44, the shift is abrupt. New call positioning has poured in since mid-October, coinciding almost exactly with the stock's sharp move higher.

The lending market does not flag anything alarming. Short interest is minimal at 0.44% of the free float. Borrow availability is generous at 769%, meaning around seven-and-a-half shares remain available to lend for every one already borrowed. The cost to borrow has risen 43% over the past week to 2.64%, which sounds sharp, but from a low base and in an environment where SI is this small, it does not point to a meaningful squeeze dynamic. The ORTEX short score sits at 47, squarely in the middle of the range and drifting lower from 51 earlier in the week.

The Street has been constructive on VINP but has not moved recently. JP Morgan's most recent action, in September, was a modest target trim from $15 to $14 while holding Overweight. Goldman Sachs reinstated with a Buy in late 2024 at $13. Those targets are all well above the current $11.25 price, implying meaningful upside if coverage is correct, though the gap between the $11.25 close and the mean analyst target of $72.29 is so large it almost certainly reflects stale or mismatched data, and that figure should not be taken at face value. Valuation multiples have moved in line with the price rally: the P/E has expanded by roughly 1.5 turns over 30 days to just under 10x, and price-to-book is up 0.25 turns to 1.65x. The EPS surprise factor score ranks in the 96th percentile, a consistently strong beat record.

Two insiders have been selling steadily under pre-arranged 10b5-1 plans. Bruno Sacchi Zaremba, President of Finance and Operations, and Fernando Lovisotto, Head of Global IP&S, together sold roughly 66,000 shares across ten transactions over the past nine days at prices between $10.87 and $11.47. The net 90-day insider position is negative at roughly 132,000 shares, worth about $1.5 million. Because all transactions were filed under 10b5-1 plans, these are scheduled sales rather than discretionary signals of conviction, and should be read accordingly. On the institutional side, Samlyn Capital has been adding, moving from 4.8% to 6.0% of shares under a passive Schedule 13G filing as of August 14. That is not an activist position, but it is a meaningful accumulation in a company where the top two holders, Gilberto Sayao da Silva and Alessandro Monteiro Horta, control roughly 35% of shares between them. SPX Equities trimmed by 231,000 shares as of June 30, a modest reduction in a concentrated register.

Earnings are scheduled for November 11. The two most recent prints both produced next-day declines: the August 2026 result dropped the stock 4.6% on the day and 8.0% over the following five sessions, and the prior print showed a similar pattern. With the stock up 21% over the past month heading into that date, how the market reacts to the next result will be the clearest test of whether the recent call-buying reflects genuine conviction or positioning that needs to be squared.