Inter & Co, Inc. (NASDAQ:INTR) Shares Gap Down Following Weak Earnings

Shares of Inter & Co, Inc. (NASDAQ:INTR - Get Free Report) gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $7.11, but opened at $6.84. Inter & Co, Inc. shares last traded at $6.85, with a volume of 624,212 shares traded.

The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). Inter & Co, Inc. had a return on equity of 10.06% and a net margin of 11.74%. The firm had revenue of $323.40 million for the quarter, compared to the consensus estimate of $1.89 billion.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley cut their price objective on Inter & Co, Inc. from $4.50 to $4.00 and set an "underweight" rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. dropped their price target on Inter & Co, Inc. from $7.20 to $7.10 and set an "overweight" rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, Inter & Co, Inc. has an average rating of "Moderate Buy" and a consensus price target of $6.78.

Hedge Funds Weigh In On Inter & Co, Inc.

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Inter & Co, Inc. by 17.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,024 shares of the company's stock worth $68,000 after buying an additional 2,399 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Inter & Co, Inc. by 6.4% in the 4th quarter. Hsbc Holdings PLC now owns 49,507 shares of the company's stock worth $207,000 after purchasing an additional 2,961 shares in the last quarter. Prudential PLC increased its holdings in Inter & Co, Inc. by 27.0% in the 4th quarter. Prudential PLC now owns 18,539 shares of the company's stock worth $78,000 after purchasing an additional 3,937 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Inter & Co, Inc. by 18.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 35,337 shares of the company's stock worth $150,000 after purchasing an additional 5,475 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Inter & Co, Inc. by 78.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 12,500 shares of the company's stock valued at $52,000 after buying an additional 5,500 shares during the period. Institutional investors own 22.90% of the company's stock.

Inter & Co, Inc. Trading Down 2.5%

The company has a market cap of $3.03 billion, a price-to-earnings ratio of 17.67 and a beta of 1.18. The firm has a 50 day moving average price of $5.96 and a two-hundred day moving average price of $5.40. The company has a quick ratio of 0.87, a current ratio of 0.85 and a debt-to-equity ratio of 0.01.

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.