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

Inter & Co, Inc. (NASDAQ:INTR) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 5,270,000 shares, a decline of 12.9% from the October 15th total of 6,050,000 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average trading volume of 2,020,000 shares, the short-interest ratio is currently 2.6 days.

Institutional Investors Weigh In On Inter & Co, Inc.

Several large investors have recently bought and sold shares of INTR. State Street Corp boosted its holdings in shares of Inter & Co, Inc. by 254.0% during the 3rd quarter. State Street Corp now owns 3,339,841 shares of the company’s stock valued at $22,243,000 after acquiring an additional 2,396,448 shares during the last quarter. Millennium Management LLC lifted its position in 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 purchasing an additional 1,868,527 shares during the period. Fourth Sail Capital LP purchased a new stake in Inter & Co, Inc. in the third quarter worth approximately $9,313,000. Marshall Wace LLP grew its position in Inter & Co, Inc. by 152.9% in the 2nd quarter. Marshall Wace LLP now owns 2,309,503 shares of the company’s stock worth $14,203,000 after purchasing an additional 1,396,317 shares during the period. Finally, Geode Capital Management LLC raised its stake in Inter & Co, Inc. by 436.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,672,833 shares of the company’s stock valued at $11,060,000 after buying an additional 1,361,258 shares during the last quarter. 22.90% of the stock is currently owned by institutional investors.

Inter & Co, Inc. Stock Up 0.7 %

INTR traded up $0.04 during trading on Monday, hitting $6.03. 1,129,748 shares of the company’s stock traded hands, compared to its average volume of 1,414,408. Inter & Co, Inc. has a 12-month low of $4.32 and a 12-month high of $7.84. The company’s 50 day simple moving average is $6.60 and its two-hundred day simple moving average is $6.51. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 17.09 and a beta of 1.52.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INTR shares. JPMorgan Chase & Co. raised shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $7.50 to $8.50 in a research note on Wednesday, October 9th. UBS Group raised their price objective on Inter & Co, Inc. from $6.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target 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.