Short Interest in Inter & Co, Inc. (NASDAQ:INTR) Increases By 366.9%

Inter & Co, Inc. (NASDAQ:INTR) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 7,050,000 shares, an increase of 366.9% from the August 31st total of 1,510,000 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average trading volume of 1,930,000 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC acquired a new stake in shares of Inter & Co, Inc. during the 1st quarter valued at about $14,762,000. Millennium Management LLC lifted its stake in Inter & Co, Inc. by 70.7% in 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 during the last quarter. Fourth Sail Capital LP bought a new stake in Inter & Co, Inc. in the first quarter worth approximately $9,155,000. Marshall Wace LLP grew its position in Inter & Co, Inc. by 152.9% in the second quarter. Marshall Wace LLP now owns 2,309,503 shares of the company’s stock worth $14,203,000 after acquiring an additional 1,396,317 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Inter & Co, Inc. during the 2nd quarter worth $1,954,000. 22.90% of the stock is owned by institutional investors and hedge funds.

Inter & Co, Inc. Price Performance

Inter & Co, Inc. stock opened at $6.74 on Friday. Inter & Co, Inc. has a twelve month low of $3.52 and a twelve month high of $7.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $2.93 billion, a PE ratio of 29.30 and a beta of 1.51. The firm’s 50 day moving average price is $7.07 and its two-hundred day moving average price is $6.30.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on INTR shares. Citigroup began coverage on shares of Inter & Co, Inc. in a research report on Tuesday, June 25th. They set a “buy” rating and a $6.80 price objective on the stock. UBS Group upped their price target 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.

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.