Intercorp Financial Services Inc. (NYSE:IFS) Sees Large Growth in Short Interest

Intercorp Financial Services Inc. (NYSE:IFS) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 102,900 shares, a growth of 121.3% from the October 31st total of 46,500 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 148,700 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their price objective on Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th.

Insider Activity

In other news, major shareholder Peru Ltd Intercorp bought 247,311 shares of Intercorp Financial Services stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $19.65 per share, with a total value of $4,859,661.15. Following the completion of the acquisition, the insider now owns 1,842,999 shares of the company’s stock, valued at $36,214,930.35. This trade represents a 15.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Intercorp Financial Services by 2.4% in the third quarter. Geode Capital Management LLC now owns 16,799 shares of the company’s stock worth $439,000 after purchasing an additional 401 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Intercorp Financial Services in the first quarter worth approximately $31,000. Acadian Asset Management LLC grew its stake in Intercorp Financial Services by 44.9% in the second quarter. Acadian Asset Management LLC now owns 21,952 shares of the company’s stock worth $490,000 after purchasing an additional 6,807 shares in the last quarter. Semanteon Capital Management LP bought a new position in Intercorp Financial Services in the third quarter worth approximately $222,000. Finally, PDT Partners LLC bought a new position in Intercorp Financial Services in the third quarter worth approximately $237,000.

Intercorp Financial Services Price Performance

NYSE:IFS traded down $0.29 during midday trading on Friday, hitting $27.75. The stock had a trading volume of 38,589 shares, compared to its average volume of 111,153. Intercorp Financial Services has a one year low of $18.60 and a one year high of $30.59. The stock has a 50-day moving average of $27.18 and a 200 day moving average of $24.56. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.56.

About Intercorp Financial Services

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.