Inter & Co, Inc. (NASDAQ:INTR) Shares Up 6.4% – Here’s Why

Inter & Co, Inc. (NASDAQ:INTR) shot up 6.4% during trading on Thursday . The company traded as high as $4.67 and last traded at $4.64. 189,904 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,474,985 shares. The stock had previously closed at $4.36.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group lifted their target price 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. raised Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $7.50 to $8.50 in a research note on Wednesday, October 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $7.56.

Inter & Co, Inc. Stock Performance

The stock has a 50 day moving average of $6.12 and a 200 day moving average of $6.46. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 12.46 and a beta of 1.24.

Institutional Investors Weigh In On Inter & Co, Inc.

Several institutional investors have recently bought and sold shares of INTR. State Street Corp grew its holdings in Inter & Co, Inc. by 254.0% during the third quarter. State Street Corp now owns 3,339,841 shares of the company’s stock worth $22,243,000 after buying an additional 2,396,448 shares in the last quarter. Millennium Management LLC grew its holdings 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 worth $27,751,000 after buying an additional 1,868,527 shares in the last quarter. Fourth Sail Capital LP bought a new stake in Inter & Co, Inc. during the third quarter worth $9,313,000. Marshall Wace LLP grew its holdings 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. Finally, Geode Capital Management LLC grew its holdings in Inter & Co, Inc. by 436.9% during the third quarter. Geode Capital Management LLC now owns 1,672,833 shares of the company’s stock worth $11,060,000 after buying an additional 1,361,258 shares in the last quarter. Institutional investors own 22.90% of the company’s stock.

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.