Intercorp Financial Services Inc. (NYSE:IFS) Short Interest Up 121.3% in November

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

Intercorp Financial Services Stock Performance

Shares of NYSE IFS traded down $0.29 during mid-day trading on Friday, reaching $27.75. 38,589 shares of the company’s stock traded hands, compared to its average volume of 111,153. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. Intercorp Financial Services has a 1-year low of $18.60 and a 1-year high of $30.59. The business has a 50-day simple moving average of $27.18 and a 200 day simple moving average of $24.56.

Insider Transactions at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp bought 247,311 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $19.65 per share, with a total value of $4,859,661.15. Following the completion of the purchase, the insider now directly owns 1,842,999 shares in the company, valued at $36,214,930.35. The trade was a 15.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Intercorp Financial Services

A number of hedge funds have recently added to or reduced their stakes in IFS. Helikon Investments Ltd raised its holdings in shares of Intercorp Financial Services by 208.5% in the second quarter. Helikon Investments Ltd now owns 781,345 shares of the company’s stock valued at $17,510,000 after purchasing an additional 528,099 shares during the last quarter. Principal Financial Group Inc. increased its stake in Intercorp Financial Services by 351.5% in the 3rd quarter. Principal Financial Group Inc. now owns 231,269 shares of the company’s stock valued at $6,043,000 after buying an additional 180,043 shares during the last quarter. Citigroup Inc. lifted its position in shares of Intercorp Financial Services by 466.7% during the 3rd quarter. Citigroup Inc. now owns 213,392 shares of the company’s stock worth $5,591,000 after buying an additional 175,734 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Intercorp Financial Services by 544.1% in the 2nd quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock worth $1,891,000 after buying an additional 71,277 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Intercorp Financial Services in the first quarter valued at approximately $458,000.

Analyst Ratings Changes

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

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.