Wellington Management Group LLP Purchases 904,682 Shares of Inter & Co. Inc. $INTR

Key Points

• Wellington Management increased its Inter & Co. stake by 16.2%, purchasing 904,682 shares to reach 6.47 million shares valued at approximately $35.1 million. Institutional investors collectively own 22.9% of the company.
• Analyst sentiment remains mixed: the stock has an average “Moderate Buy” rating and a $9.16 price target, though Goldman Sachs, JPMorgan, and Citigroup recently reduced their targets.
• Inter & Co. shares opened at $5.66, near their 12-month low of $5.04. In its latest quarter, the company earned $0.19 per share, beating estimates, but revenue of $475.45 million fell short of expectations.

Wellington Management Group LLP boosted its holdings in shares of Inter & Co. Inc. (NASDAQ:INTR - Free Report) by 16.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,472,694 shares of the company's stock after purchasing an additional 904,682 shares during the period. Wellington Management Group LLP owned about 1.47% of Inter & Co. Inc. worth $35,147,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. WIM INVESTMENT MANAGEMENT Ltd increased its position in Inter & Co. Inc. by 41.3% during the 4th quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 1,386,400 shares of the company's stock valued at $11,757,000 after purchasing an additional 405,000 shares during the period. Hsbc Holdings PLC purchased a new stake in Inter & Co. Inc. in the first quarter worth about $1,849,000. William Blair Investment Management LLC boosted its position in Inter & Co. Inc. by 60.6% during the 4th quarter. William Blair Investment Management LLC now owns 5,595,196 shares of the company's stock valued at $47,447,000 after acquiring an additional 2,110,861 shares in the last quarter. SPX Gestao de Recursos Ltda grew its holdings 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 worth $32,029,000 after acquiring an additional 3,676,696 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of Inter & Co. Inc. by 331.5% during the 1st quarter. Cetera Investment Advisers now owns 133,470 shares of the company's stock worth $1,062,000 after acquiring an additional 102,538 shares during the period. 22.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on INTR shares. The Goldman Sachs Group dropped their price target on Inter & Co. Inc. from $13.00 to $11.50 and set a "buy" rating on the stock in a research report on Friday, May 8th. Wall Street Zen lowered Inter & Co. Inc. from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. 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. JPMorgan Chase & Co. reduced their target price on shares of Inter & Co. Inc. from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 12th. Finally, Citigroup lowered shares of Inter & Co. Inc. from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $12.00 to $6.50 in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Inter & Co. Inc. currently has an average rating of "Moderate Buy" and an average price target of $9.16.

Inter & Co. Inc. Trading Down 2.4%

Inter & Co. Inc. stock opened at $5.66 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. The business's fifty day simple moving average is $5.50 and its two-hundred day simple moving average is $6.67. Inter & Co. Inc. has a 12 month low of $5.04 and a 12 month high of $10.36. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 0.23 and a beta of 0.94.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) last released its 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. The firm had revenue of $475.45 million for the quarter, compared to analysts' expectations of $513.31 million. Inter & Co. Inc. had a return on equity of 14.94% and a net margin of 11.23%. As a group, equities analysts predict that Inter & Co. Inc. will post 0.77 earnings per share for the current fiscal year.

Inter & Co. Inc. Company Profile

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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