Inter & Co, Inc. (NASDAQ:INTR) Sees Large Drop in Short Interest

Inter & Co, Inc. (NASDAQ:INTR) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 6,430,000 shares, a drop of 8.8% from the September 15th total of 7,050,000 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average daily volume of 2,040,000 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bayesian Capital Management LP bought a new position in shares of Inter & Co, Inc. in the 1st quarter valued at about $180,000. Squarepoint Ops LLC grew its position in shares of Inter & Co, Inc. by 46.4% in the 2nd quarter. Squarepoint Ops LLC now owns 37,708 shares of the company’s stock valued at $232,000 after acquiring an additional 11,949 shares during the period. Virtu Financial LLC bought a new position in shares of Inter & Co, Inc. in the 1st quarter valued at about $346,000. Quadrature Capital Ltd grew its position in shares of Inter & Co, Inc. by 496.8% in the 4th quarter. Quadrature Capital Ltd now owns 69,518 shares of the company’s stock valued at $387,000 after acquiring an additional 57,870 shares during the period. Finally, Handelsbanken Fonder AB bought a new position in shares of Inter & Co, Inc. in the 3rd quarter valued at about $603,000. Institutional investors own 22.90% of the company’s stock.

Inter & Co, Inc. Stock Up 2.2 %

INTR stock traded up $0.14 during midday trading on Wednesday, hitting $6.45. The company’s stock had a trading volume of 806,665 shares, compared to its average volume of 1,438,087. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.91 and a quick ratio of 0.91. Inter & Co, Inc. has a twelve month low of $4.01 and a twelve month high of $7.84. The company’s fifty day moving average price is $7.01 and its 200 day moving average price is $6.34. The stock has a market capitalization of $2.80 billion, a P/E ratio of 27.43 and a beta of 1.50.

Inter & Co, Inc. (NASDAQ:INTR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Inter & Co, Inc. had a net margin of 8.85% and a return on equity of 7.85%. The company had revenue of $283.71 million during the quarter, compared to the consensus estimate of $264.62 million. As a group, equities research analysts predict that Inter & Co, Inc. will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INTR. JPMorgan Chase & Co. upgraded shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $7.50 to $8.50 in a report on Wednesday, October 9th. UBS Group raised their price objective on shares of Inter & Co, Inc. from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Citigroup began coverage on shares of Inter & Co, Inc. in a report on Tuesday, June 25th. They set a “buy” rating and a $6.80 price objective on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.56.

Inter & Co, Inc. Company Profile

Inter & Co, Inc, through its subsidiaries, engages in the banking and spending, investments, insurance brokerage businesses. The company's Banking & Spending segment offers banking products and services, including checking accounts, cards, deposits, loans and advances, and other services.