Inter & Co, Inc. (NASDAQ:INTR) Trading Down 2.9%

Inter & Co, Inc. (NASDAQ:INTR)’s stock price dropped 2.9% during trading on Thursday . The company traded as low as $7.37 and last traded at $7.38. Approximately 443,223 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,229,954 shares. The stock had previously closed at $7.60.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTR. Citigroup assumed coverage on shares of Inter & Co, Inc. in a 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 stock a “buy” rating in a research note on Friday, August 9th. Finally, Itau BBA Securities upgraded Inter & Co, Inc. from a “market perform” rating to an “outperform” rating and set a $8.00 price target on the stock in a report on Tuesday, May 21st.

Inter & Co, Inc. Price Performance

The stock has a market capitalization of $3.19 billion, a P/E ratio of 31.96 and a beta of 1.50. The business’s 50 day simple moving average is $6.74 and its two-hundred day simple moving average is $6.10. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.01.

Inter & Co, Inc. (NASDAQ:INTR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $283.71 million for the quarter, compared to analysts’ expectations of $264.62 million. Inter & Co, Inc. had a net margin of 7.38% and a return on equity of 6.16%. As a group, sell-side analysts forecast that Inter & Co, Inc. will post 0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Axxcess Wealth Management LLC bought a new position in Inter & Co, Inc. during the 4th quarter valued at $550,000. Jump Financial LLC lifted its position in shares of Inter & Co, Inc. by 301.9% during the fourth quarter. Jump Financial LLC now owns 41,800 shares of the company’s stock valued at $232,000 after purchasing an additional 31,400 shares in the last quarter. SPX Gestao de Recursos Ltda boosted its holdings in Inter & Co, Inc. by 171.0% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 362,162 shares of the company’s stock worth $2,014,000 after purchasing an additional 228,528 shares during the last quarter. Quadrature Capital Ltd grew its position in Inter & Co, Inc. by 496.8% in the 4th quarter. Quadrature Capital Ltd now owns 69,518 shares of the company’s stock worth $387,000 after purchasing an additional 57,870 shares in the last quarter. Finally, Fourth Sail Capital LP purchased a new stake in Inter & Co, Inc. in the 1st quarter valued at about $9,155,000. Hedge funds and other 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.