SPX Gestao de Recursos Ltda Boosts Stake in Inter & Co. Inc. $INTR

Key Points

• SPX Gestao de Recursos Ltda dramatically increased its stake in Inter & Co. Inc. by 1,059.2% in the first quarter, ending with 4.02 million shares worth about $32.0 million.
• Inter & Co. reported Q1 EPS of $0.17, in line with expectations, but revenue of $437.95 million came in below the $495.33 million consensus estimate.
• Analyst sentiment has softened: several firms cut price targets, and the stock now carries a Moderate Buy consensus with an average target price of $9.28.

SPX Gestao de Recursos Ltda increased its holdings in shares of Inter & Co. Inc. (NASDAQ:INTR - Free Report) by 1,059.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,023,802 shares of the company's stock after acquiring an additional 3,676,696 shares during the period. Inter & Co. Inc. makes up approximately 2.7% of SPX Gestao de Recursos Ltda's portfolio, making the stock its 13th biggest holding. SPX Gestao de Recursos Ltda owned 0.92% of Inter & Co. Inc. worth $32,029,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of Inter & Co. Inc. by 1,446.7% during the 1st quarter. Royal Bank of Canada now owns 66,510 shares of the company's stock worth $364,000 after purchasing an additional 62,210 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Inter & Co. Inc. by 94.4% in the first quarter. Millennium Management LLC now owns 2,113,061 shares of the company's stock valued at $11,580,000 after purchasing an additional 1,026,321 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Inter & Co. Inc. by 43.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,927,453 shares of the company's stock valued at $16,042,000 after purchasing an additional 891,939 shares during the period. Jane Street Group LLC boosted its holdings in Inter & Co. Inc. by 502.0% during the first quarter. Jane Street Group LLC now owns 1,431,616 shares of the company's stock worth $7,845,000 after buying an additional 1,193,818 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Inter & Co. Inc. by 0.3% during the second quarter. Geode Capital Management LLC now owns 444,505 shares of the company's stock worth $3,303,000 after buying an additional 1,303 shares in the last quarter. Hedge funds and other institutional investors own 22.90% of the company's stock.

Inter & Co. Inc. Stock Performance

NASDAQ:INTR opened at $5.37 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.37 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 0.22 and a beta of 0.95. The firm has a 50-day moving average price of $5.76 and a two-hundred day moving average price of $7.51. Inter & Co. Inc. has a twelve month low of $5.16 and a twelve month high of $10.36.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $437.95 million for the quarter, compared to the consensus estimate of $495.33 million. Inter & Co. Inc. had a net margin of 12.24% and a return on equity of 14.34%. As a group, research analysts expect that Inter & Co. Inc. will post 0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on INTR shares. Citigroup lowered shares of Inter & Co. Inc. from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $12.00 to $6.50 in a research report on Monday, May 18th. JPMorgan Chase & Co. decreased their price target on Inter & Co. Inc. from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen lowered Inter & Co. Inc. from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. The Goldman Sachs Group lowered their price target on Inter & Co. Inc. from $13.00 to $11.50 and set a "buy" rating on the stock in a report on Friday, May 8th. Finally, UBS Group reduced their price objective on Inter & Co. Inc. from $10.40 to $9.40 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $9.28.

About Inter & Co. Inc.

Inter & Co, Inc Is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Banking, Securities, Insurance Brokerage, Marketplace, Asset Management, Service, and Other. The Banking segment offers checking accounts cards, deposits, loans and advances, and other services through mobile application. The Securities segment is involved in the acquisition, sale and custody of securities, the structuring and distribution of securities in the capital market, and the provision of administration services to investment funds.

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