SPX Gestao de Recursos Ltda Makes New $18.93 Million Investment in Inter & Co. Inc. $INTR

Key Points

• SPX Gestao de Recursos Ltda bought 2,050,930 shares of Inter & Co. Inc. (NASDAQ:INTR) in Q3, a new stake valued at approximately $18.93 million that represented about 0.47% of INTR and 1.6% of SPX's portfolio (its 18th largest holding).
• Other institutions ramped up exposure—William Blair increased its position by 108.9% to 3,484,335 shares (~$32.16M) and new stakes were added by Tredje AP, WIM, Quantbot and others—bringing total institutional ownership to about 22.90%.
• Operationally, INTR reported Q results with $0.16 EPS (beat by $0.01) but revenue missed estimates, and the company raised its annual dividend to $0.1131 from $0.08; consensus analyst sentiment is a "Hold" with an average target around $9.00.

SPX Gestao de Recursos Ltda bought a new stake in Inter & Co. Inc. (NASDAQ:INTR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,050,930 shares of the company's stock, valued at approximately $18,930,000. Inter & Co. Inc. comprises approximately 1.6% of SPX Gestao de Recursos Ltda's investment portfolio, making the stock its 18th largest holding. SPX Gestao de Recursos Ltda owned about 0.47% of Inter & Co. Inc. at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC boosted its position in shares of Inter & Co. Inc. by 108.9% in the 3rd quarter. William Blair Investment Management LLC now owns 3,484,335 shares of the company's stock worth $32,160,000 after buying an additional 1,816,322 shares in the last quarter. Quantbot Technologies LP purchased a new position in Inter & Co. Inc. during the 3rd quarter valued at about $1,157,000. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Inter & Co. Inc. during the third quarter worth about $9,058,000. Citigroup Inc. lifted its holdings in shares of Inter & Co. Inc. by 19.6% in the third quarter. Citigroup Inc. now owns 404,035 shares of the company's stock valued at $3,729,000 after purchasing an additional 66,198 shares in the last quarter. Finally, Tredje AP fonden purchased a new stake in shares of Inter & Co. Inc. in the third quarter valued at about $12,372,000. Institutional investors and hedge funds own 22.90% of the company's stock.

Inter & Co. Inc. Stock Performance

Shares of INTR opened at $8.02 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.35 and a beta of 1.18. The company's 50 day simple moving average is $8.84 and its 200 day simple moving average is $8.81. Inter & Co. Inc. has a 1 year low of $4.86 and a 1 year high of $10.36.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $404.31 million for the quarter, compared to analyst estimates of $441.78 million. Inter & Co. Inc. had a net margin of 12.01% and a return on equity of 13.54%. On average, sell-side analysts predict that Inter & Co. Inc. will post 0.48 EPS for the current year.

Inter & Co. Inc. Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, March 5th. Investors of record on Sunday, February 22nd were paid a $0.1131 dividend. The ex-dividend date was Friday, February 20th. This is an increase from Inter & Co. Inc.'s previous annual dividend of $0.08. This represents a yield of 122.0%. Inter & Co. Inc.'s payout ratio is currently 20.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INTR. Weiss Ratings reissued a "hold (c+)" rating on shares of Inter & Co. Inc. in a research note on Monday, December 29th. UBS Group reiterated a "buy" rating and set a $12.00 target price on shares of Inter & Co. Inc. in a report on Thursday, February 12th. Wall Street Zen raised Inter & Co. Inc. from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Itau BBA Securities cut Inter & Co. Inc. from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $11.00 to $10.00 in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Inter & Co. Inc. presently has a consensus rating of "Hold" and an average price target of $9.00.

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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