Inter & Co, Inc. (NASDAQ:INTR) Short Interest Down 8.8% in September

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on INTR. Citigroup initiated coverage on shares of Inter & Co, Inc. in a research note on Tuesday, June 25th. They issued a “buy” rating and a $6.80 price target on the stock. JPMorgan Chase & Co. raised Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $7.50 to $8.50 in a research note on Wednesday, October 9th. Finally, UBS Group boosted their price target on Inter & Co, Inc. from $6.50 to $8.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inter & Co, Inc. presently has an average rating of “Buy” and a consensus price target of $7.56.

Institutional Investors Weigh In On Inter & Co, Inc.

Several hedge funds and other institutional investors have recently modified their holdings of INTR. Fourth Sail Capital LP acquired a new position in Inter & Co, Inc. during the 1st quarter valued at $9,155,000. Handelsbanken Fonder AB bought a new position in shares of Inter & Co, Inc. during the 3rd quarter worth about $603,000. Samlyn Capital LLC raised its position in shares of Inter & Co, Inc. by 4.1% during the second quarter. Samlyn Capital LLC now owns 4,994,031 shares of the company’s stock valued at $30,713,000 after buying an additional 196,355 shares during the last quarter. Millennium Management LLC raised its position in shares of Inter & Co, Inc. by 70.7% during the second quarter. Millennium Management LLC now owns 4,512,367 shares of the company’s stock valued at $27,751,000 after buying an additional 1,868,527 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Inter & Co, Inc. by 152.9% during the second quarter. Marshall Wace LLP now owns 2,309,503 shares of the company’s stock worth $14,203,000 after buying an additional 1,396,317 shares in the last quarter. Institutional investors and hedge funds own 22.90% of the company’s stock.

Inter & Co, Inc. Stock Performance

Shares of NASDAQ INTR traded up $0.21 during trading hours on Wednesday, hitting $6.52. 1,425,805 shares of the stock were exchanged, compared to its average volume of 1,441,373. Inter & Co, Inc. has a one year low of $4.01 and a one year high of $7.84. The company’s 50 day moving average is $7.01 and its 200 day moving average is $6.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $2.83 billion, a P/E ratio of 28.04 and a beta of 1.50.

Inter & Co, Inc. (NASDAQ:INTR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Inter & Co, Inc. had a return on equity of 7.85% and a net margin of 8.85%. The company had revenue of $283.71 million for the quarter, compared to the consensus estimate of $264.62 million. On average, research analysts expect that Inter & Co, Inc. will post 0.37 EPS for the current year.

About Inter & Co, Inc.

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.