Inter & Co. Inc. (NASDAQ:INTR) Stock Jumps 6.4% – Here’s Why

Inter & Co. Inc. (NASDAQ:INTR) rose 6.4% during trading on Friday. The company traded as high as $4.24 and last traded at $4.2150. 1,647,274 shares traded hands during trading, a decline of 72% from the average daily volume of 5,940,219 shares. The stock had previously closed at $3.96.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTR. JPMorgan Chase & Co. raised their price objective on shares of Inter & Co. Inc. from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th. The Goldman Sachs Group set a $9.00 price target on shares of Inter & Co. Inc. in a research report on Thursday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Inter & Co. Inc. in a research report on Tuesday, October 6th. UBS Group lifted their price target on Inter & Co. Inc. from $8.80 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Finally, Zacks Research raised Inter & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.30.

Inter & Co. Inc. Price Performance

The company has a 50 day moving average of $5.55 and a 200-day moving average of $6.58. The stock has a market capitalization of $1.88 billion, a P/E ratio of 6.41, a PEG ratio of 0.20 and a beta of 1.01. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08.

Inter & Co. Inc. (NASDAQ:INTR) last released its earnings results on Sunday, November 1st. The company reported $0.18 earnings per share for the quarter. Inter & Co. Inc. had a net margin of 11.23% and a return on equity of 14.94%. The firm had revenue of $491.26 million during the quarter. Sell-side analysts predict that Inter & Co. Inc. will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. SPX Gestao de Recursos Ltda grew its position in shares of Inter & Co. Inc. by 1,059.2% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 4,023,802 shares of the company’s stock valued at $32,029,000 after buying an additional 3,676,696 shares during the last quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. acquired a new position in Inter & Co. Inc. in the second quarter valued at approximately $13,267,000. Wellington Management Group LLP boosted its stake in Inter & Co. Inc. by 16.2% in the second quarter. Wellington Management Group LLP now owns 6,472,694 shares of the company’s stock valued at $35,147,000 after acquiring an additional 904,682 shares during the period. Bank of America Corp DE grew its holdings in shares of Inter & Co. Inc. by 84.3% during the first quarter. Bank of America Corp DE now owns 1,488,581 shares of the company’s stock valued at $11,849,000 after purchasing an additional 680,958 shares during the last quarter. Finally, ABS Direct Equity Fund LLC bought a new position in shares of Inter & Co. Inc. during the first quarter valued at approximately $4,630,000. 22.90% of the stock is owned by institutional investors and hedge funds.

About Inter & Co. Inc.

Inter & Co. Inc. is a digital financial services company whose platform is centered on Banco Inter, a Brazilian digital bank. The company offers banking services such as accounts, payments, credit and debit cards, lending, and financial products, including investment and insurance offerings. Its broader digital platform also includes shopping and lifestyle services, as well as tools for customers making international transactions. Inter serves customers primarily in Brazil and has expanded its offerings to include services for clients in the United States.