Inter & Co. Inc. (NASDAQ:INTR) Short Interest Up 38.4% in March

Key Points

• Short interest rose 38.4% in March to 9,103,691 shares, giving a short-interest ratio of 3.0 days and roughly 2.1% of the company's stock sold short.
• The stock fell 6.3% to $7.71 on above-average volume, trading below its 50- and 200-day moving averages of $8.73 and $8.80; market cap is $3.39 billion with a PE of 14.28.
• Inter & Co. slightly beat EPS expectations ($0.16 vs. $0.15) but missed on revenue ($404.31M vs. $441.78M), and the company recently raised its annual dividend to $0.1131 per share.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 9,103,691 shares, an increase of 38.4% from the February 26th total of 6,576,679 shares. Based on an average trading volume of 3,065,596 shares, the short-interest ratio is currently 3.0 days. Approximately 2.1% of the company's stock are sold short.

Inter & Co. Inc. Trading Down 6.3%

Inter & Co. Inc. stock traded down $0.52 during mid-day trading on Friday, hitting $7.71. The company's stock had a trading volume of 3,617,262 shares, compared to its average volume of 3,029,810. 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 50 day moving average of $8.73 and a 200-day moving average of $8.80. Inter & Co. Inc. has a one year low of $4.86 and a one year high of $10.36. The stock has a market cap of $3.39 billion, a PE ratio of 14.28, a P/E/G ratio of 0.33 and a beta of 1.18.

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

Inter & Co. Inc. Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, March 5th. Shareholders of record on Sunday, February 22nd were paid a dividend of $0.1131 per share. This represents a yield of 122.0%. The ex-dividend date was Friday, February 20th. This is a positive change from Inter & Co. Inc.'s previous annual dividend of $0.08. Inter & Co. Inc.'s dividend payout ratio (DPR) is currently 20.37%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in Inter & Co. Inc. by 1,446.7% in the first quarter. Royal Bank of Canada now owns 66,510 shares of the company's stock valued at $364,000 after purchasing an additional 62,210 shares during the period. Millennium Management LLC grew its stake in Inter & Co. Inc. by 94.4% in the 1st quarter. Millennium Management LLC now owns 2,113,061 shares of the company's stock valued at $11,580,000 after acquiring an additional 1,026,321 shares during the period. Goldman Sachs Group Inc. increased its holdings in 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 worth $16,042,000 after acquiring an additional 891,939 shares in the last quarter. Jane Street Group LLC raised its position in Inter & Co. Inc. by 502.0% during the first quarter. Jane Street Group LLC now owns 1,431,616 shares of the company's stock worth $7,845,000 after acquiring an additional 1,193,818 shares during the period. Finally, Geode Capital Management LLC raised its position in Inter & Co. Inc. by 0.3% during the second quarter. Geode Capital Management LLC now owns 444,505 shares of the company's stock worth $3,303,000 after acquiring an additional 1,303 shares during the period. Hedge funds and other institutional investors own 22.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Inter & Co. Inc. in a research note on Thursday, February 12th. Wall Street Zen cut Inter & Co. Inc. from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Inter & Co. Inc. in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.67.

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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