Inter & Co, Inc. (NASDAQ:INTR) Stock Price Down 3.1% – What’s Next?

Inter & Co, Inc. (NASDAQ:INTR)’s stock price dropped 3.1% during mid-day trading on Friday . The stock traded as low as $6.26 and last traded at $6.26. Approximately 688,640 shares were traded during trading, a decline of 52% from the average daily volume of 1,436,219 shares. The stock had previously closed at $6.46.

Analyst Ratings Changes

INTR has been the subject of several recent research reports. Citigroup began coverage on Inter & Co, Inc. in a report on Tuesday, June 25th. They set a “buy” rating and a $6.80 price objective for the company. UBS Group increased their target price on shares of Inter & Co, Inc. from $6.50 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $7.50 to $8.50 in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $7.56.

Inter & Co, Inc. Price Performance

The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 27.30 and a beta of 1.50. The company’s 50-day simple moving average is $7.00 and its 200 day simple moving average is $6.32. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On Inter & Co, Inc.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB acquired a new stake in shares of Inter & Co, Inc. in the third quarter valued at about $603,000. SG Americas Securities LLC acquired a new stake in shares of Inter & Co, Inc. in the third quarter valued at about $1,358,000. Millennium Management LLC grew its position in shares of 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 purchasing an additional 1,868,527 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Inter & Co, Inc. by 46.4% in the second quarter. Squarepoint Ops LLC now owns 37,708 shares of the company’s stock valued at $232,000 after buying an additional 11,949 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Inter & Co, Inc. by 152.9% in the second quarter. Marshall Wace LLP now owns 2,309,503 shares of the company’s stock valued at $14,203,000 after buying an additional 1,396,317 shares during the period. 22.90% of the stock is owned by institutional investors and hedge funds.

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.