Inter & Co. Inc. (NASDAQ:INTR) Shares Gap Up Following Earnings Beat

Key Points

• Inter & Co. Inc. shares experienced a significant increase, opening at $7.35 after a previous close of $6.53, indicating a gap up before trading on Wednesday.
• The company reported a net margin of 11.87% and a return on equity of 10.88%, with earnings per share (EPS) meeting consensus estimates at $0.13 for the last quarter.
• Institutional investors showed increasing interest, with hedge funds like Summit Securities Group increasing their position in Inter & Co. Inc. by 1,375.1% in the first quarter.

Shares of Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $6.53, but opened at $7.35. Inter & Co. Inc. shares last traded at $7.04, with a volume of 477,778 shares changing hands.

The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Inter & Co. Inc. had a return on equity of 11.85% and a net margin of 12.55%. The company had revenue of $365.45 million for the quarter, compared to analyst estimates of $2.04 billion.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its holdings in shares of Inter & Co. Inc. by 1,281.2% in the second quarter. SBI Securities Co. Ltd. now owns 5,649 shares of the company's stock valued at $42,000 after acquiring an additional 5,240 shares during the period. Summit Securities Group LLC raised its position in Inter & Co. Inc. by 1,375.1% in the 1st quarter. Summit Securities Group LLC now owns 9,072 shares of the company's stock valued at $50,000 after purchasing an additional 8,457 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Inter & Co. Inc. in the 4th quarter valued at $60,000. Voya Investment Management LLC boosted its stake in Inter & Co. Inc. by 79.8% during the 4th quarter. Voya Investment Management LLC now owns 18,544 shares of the company's stock worth $78,000 after purchasing an additional 8,230 shares during the period. Finally, Talon Private Wealth LLC purchased a new position in Inter & Co. Inc. during the 4th quarter worth $83,000. Institutional investors and hedge funds own 22.90% of the company's stock.

Inter & Co. Inc. Trading Up 0.8%

The business's 50 day simple moving average is $7.06 and its 200 day simple moving average is $6.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 0.41 and a beta of 1.12.

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.