Engineers Gate Manager LP Decreases Stock Holdings in Inter & Co. Inc. $INTR

Key Points

• Engineers Gate Manager LP cut its Inter & Co. position by 69.3% in the second quarter, selling 388,414 shares and retaining 172,178 shares worth approximately $935,000.
• Other institutional investors increased their holdings, including Wellington Management and SPX Gestao de Recursos; institutional investors collectively own 22.9% of INTR.
• Inter & Co. shares opened at $5.35, near their 52-week low, despite the company beating quarterly EPS expectations ($0.19 versus $0.18). Analysts maintain a “Moderate Buy” consensus with an average price target of $9.16.

Engineers Gate Manager LP decreased its position in Inter & Co. Inc. (NASDAQ:INTR - Free Report) by 69.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,178 shares of the company's stock after selling 388,414 shares during the quarter. Engineers Gate Manager LP's holdings in Inter & Co. Inc. were worth $935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTR. Squadra Investments Gestao DE Recursos LTDA. grew its position in shares of Inter & Co. Inc. by 1.1% in the 1st quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 6,320,952 shares of the company's stock worth $50,315,000 after buying an additional 67,500 shares during the period. William Blair Investment Management LLC boosted its position in shares of Inter & Co. Inc. by 60.6% in the 4th quarter. William Blair Investment Management LLC now owns 5,595,196 shares of the company's stock worth $47,447,000 after purchasing an additional 2,110,861 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Inter & Co. Inc. by 16.2% in the 2nd quarter. Wellington Management Group LLP now owns 6,472,694 shares of the company's stock worth $35,147,000 after purchasing an additional 904,682 shares in the last quarter. SPX Gestao de Recursos Ltda grew its stake in shares of Inter & Co. Inc. by 1,059.2% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 4,023,802 shares of the company's stock worth $32,029,000 after buying an additional 3,676,696 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Inter & Co. Inc. by 7.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,433,539 shares of the company's stock worth $19,371,000 after buying an additional 170,649 shares during the last quarter. 22.90% of the stock is owned by institutional investors.

Inter & Co. Inc. Trading Down 1.8%

Inter & Co. Inc. stock opened at $5.35 on Friday. Inter & Co. Inc. has a one year low of $5.04 and a one year high of $10.36. The business's fifty day moving average is $5.50 and its 200 day moving average is $6.44. The stock has a market capitalization of $2.36 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Inter & Co. Inc. had a net margin of 11.23% and a return on equity of 14.94%. The firm had revenue of $475.45 million during the quarter, compared to analyst estimates of $513.31 million. On average, sell-side analysts predict that Inter & Co. Inc. will post 0.75 EPS for the current year.

Analysts Set New Price Targets

INTR has been the subject of a number of analyst reports. UBS Group decreased their target price on shares of Inter & Co. Inc. from $9.40 to $8.80 and set a "buy" rating for the company in a report on Tuesday, August 11th. Weiss Ratings cut shares of Inter & Co. Inc. from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Inter & Co. Inc. currently has an average rating of "Moderate Buy" and an average price target of $9.16.

Inter & Co. Inc. Company Profile

Inter & Co, Inc is a financial technology company that operates a digital banking and commerce platform primarily serving customers in Brazil. Through its Inter brand, the company offers financial services through a mobile application designed to combine banking, payments and other consumer services in a single platform.

Its products and services include digital checking accounts, payment cards, personal and business lending, investment products, insurance, foreign-exchange services and payment solutions.

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