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

Inter & Co, Inc. (NASDAQ:INTR - Get Free Report) gapped down before the market opened on Monday after the company announced weaker than expected quarterly earnings. 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 changing hands.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Inter & Co, Inc.

A number of hedge funds and other institutional investors have recently made changes to their positions in INTR. Swedbank AB bought a new stake in shares of Inter & Co, Inc. in the 4th quarter worth approximately $7,826,000. Samlyn Capital LLC raised its position in shares of Inter & Co, Inc. by 23.8% during the first quarter. Samlyn Capital LLC now owns 7,591,911 shares of the company's stock worth $41,604,000 after purchasing an additional 1,459,151 shares during the period. Millennium Management LLC purchased a new stake in shares of Inter & Co, Inc. during the fourth quarter valued at $4,586,000. Marshall Wace LLP lifted its holdings in shares of Inter & Co, Inc. by 96.8% during the fourth quarter. Marshall Wace LLP now owns 1,946,200 shares of the company's stock valued at $8,213,000 after purchasing an additional 957,361 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Inter & Co, Inc. by 43.8% in the 1st 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. 22.90% of the stock is currently owned by institutional investors.

Inter & Co, Inc. Trading Down 2.0%

The company has a fifty day simple moving average of $5.96 and a 200-day simple moving average of $5.40. The company has a current ratio of 0.85, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 17.31 and a beta of 1.18.

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.