Inter & Co. Inc. (NASDAQ:INTR) Short Interest Down 54.6% in August

Key Points

• Inter & Co. Inc. saw a significant drop in short interest, decreasing by 54.6% to 5,780,000 shares in August.
• Institutional investors increased their stakes, with notable additions from Northern Trust Corp and Jane Street Group LLC, reflecting growing interest in the company.
• Analysts maintain a buy rating on the stock with a target price increase to $9.20, suggesting potential upward movement in share value.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 5,780,000 shares, a decline of 54.6% from the August 15th total of 12,720,000 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily volume of 2,400,000 shares, the days-to-cover ratio is presently 2.4 days. Based on an average daily volume of 2,400,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.4% of the shares of the stock are sold short.

Institutional Trading of Inter & Co. Inc.

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its stake in 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 worth $42,000 after purchasing an additional 5,240 shares during the last quarter. Summit Securities Group LLC lifted its stake in Inter & Co. Inc. by 1,375.1% in the first quarter. Summit Securities Group LLC now owns 9,072 shares of the company's stock worth $50,000 after purchasing an additional 8,457 shares during the last quarter. Scotia Capital Inc. purchased a new position in shares of Inter & Co. Inc. during the second quarter worth approximately $99,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Inter & Co. Inc. during the fourth quarter worth approximately $60,000. Finally, Entropy Technologies LP purchased a new position in shares of Inter & Co. Inc. during the second quarter worth approximately $131,000. Institutional investors own 22.90% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group reiterated a "buy" rating and issued a $9.20 price target (up previously from $8.10) on shares of Inter & Co. Inc. in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $6.77.

Inter & Co. Inc. Price Performance

Shares of NASDAQ INTR traded down $0.19 during mid-day trading on Thursday, hitting $8.90. 2,308,341 shares of the company's stock traded hands, compared to its average volume of 2,450,505. The company's 50-day moving average is $7.75 and its two-hundred day moving average is $6.87. 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 $3.91 billion, a P/E ratio of 19.78, a PEG ratio of 0.44 and a beta of 1.13. Inter & Co. Inc. has a 1 year low of $3.88 and a 1 year high of $9.27.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The company had revenue of $365.45 million for the quarter, compared to analyst estimates of $2.04 billion. Inter & Co. Inc. had a net margin of 12.55% and a return on equity of 11.85%. On average, equities analysts anticipate that Inter & Co. Inc. will post 0.48 EPS 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.