Inter & Co, Inc. (NASDAQ:INTR) Short Interest Update

Inter & Co, Inc. (NASDAQ:INTR) was the target of a large 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. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 2.6% of the company’s stock are sold short.

Inter & Co, Inc. Stock Performance

Shares of INTR stock traded up $0.04 during trading hours on Monday, hitting $6.03. The company’s stock had a trading volume of 1,129,748 shares, compared to its average volume of 1,414,408. The stock has a market cap of $2.62 billion, a PE ratio of 17.09 and a beta of 1.52. Inter & Co, Inc. has a 12-month low of $4.32 and a 12-month high of $7.84. The company has a 50 day moving average of $6.60 and a 200 day moving average of $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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTR. State Street Corp raised its stake 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 buying an additional 2,396,448 shares during the last quarter. Millennium Management LLC raised 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 acquiring an additional 1,868,527 shares in the last quarter. Fourth Sail Capital LP acquired a new position in Inter & Co, Inc. in the third quarter valued at approximately $9,313,000. Marshall Wace LLP boosted 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 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 worth $11,060,000 after purchasing an additional 1,361,258 shares during the period. 22.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INTR. 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. JPMorgan Chase & Co. upgraded Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $7.50 to $8.50 in a report on Wednesday, October 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Inter & Co, Inc. has an average rating of “Buy” and a consensus target price of $7.56.

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.