Short Interest in Inter & Co, Inc. (NASDAQ:INTR) Drops By 12.9%

Inter & Co, Inc. (NASDAQ:INTR) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 5,270,000 shares, a drop of 12.9% from the October 15th total of 6,050,000 shares. Currently, 2.6% of the shares of the company are short sold. Based on an average trading volume of 2,020,000 shares, the short-interest ratio is presently 2.6 days.

Institutional Investors Weigh In On Inter & Co, Inc.

Large investors have recently bought and sold shares of the company. State Street Corp boosted its position 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 worth $22,243,000 after acquiring an additional 2,396,448 shares in the last quarter. Millennium Management LLC lifted its stake 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 purchasing an additional 1,868,527 shares during the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Inter & Co, Inc. in the 3rd quarter valued at $9,313,000. Marshall Wace LLP raised its holdings in shares of Inter & Co, Inc. by 152.9% during the 2nd 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 lifted its position 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 buying an additional 1,361,258 shares during the last quarter. 22.90% of the stock is currently owned by institutional investors and hedge funds.

Inter & Co, Inc. Price Performance

Shares of INTR traded up $0.04 during trading hours on Monday, hitting $6.03. 1,129,748 shares of the company were exchanged, compared to its average volume of 1,414,408. 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. has a fifty-two week low of $4.32 and a fifty-two week high of $7.84. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 17.09 and a beta of 1.52. The firm’s fifty day moving average is $6.60 and its 200 day moving average is $6.51.

Wall Street Analyst Weigh In

Several research firms have recently commented on INTR. JPMorgan Chase & Co. raised Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $7.50 to $8.50 in a research report on Wednesday, October 9th. UBS Group boosted their target price on shares of Inter & Co, Inc. from $6.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.