Intercorp Financial Services Inc. (NYSE:IFS) Sees Large Increase in Short Interest

Key Points

• Intercorp Financial Services Inc. experienced a significant increase in short interest in August, growing by 152.1% to a total of 145,700 shares.
• The company's stock is currently trading at $41.96, with a market capitalization of $4.80 billion and a P/E ratio of 9.32.
• Analysts have upgraded the stock's rating from "hold" to "strong-buy", reflecting positive sentiment in the market.

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 145,700 shares, a growth of 152.1% from the August 15th total of 57,800 shares. Approximately 0.5% of the company's shares are short sold. Based on an average trading volume of 204,200 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 204,200 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.5% of the company's shares are short sold.

Intercorp Financial Services Stock Down 5.2%

Shares of IFS traded down $2.15 on Thursday, reaching $39.47. The company's stock had a trading volume of 323,540 shares, compared to its average volume of 157,049. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.52 billion, a PE ratio of 8.77, a PEG ratio of 0.37 and a beta of 1.16. Intercorp Financial Services has a twelve month low of $24.28 and a twelve month high of $42.21. The firm has a fifty day moving average of $38.55 and a 200-day moving average of $35.71.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IFS shares. Wall Street Zen raised shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Zacks Research raised shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of "Strong Buy".

Insider Buying and Selling

In other news, major shareholder Peru Ltd Intercorp purchased 17,803 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were acquired at an average price of $19.66 per share, with a total value of $350,006.98. Following the completion of the transaction, the insider owned 2,946,766 shares of the company's stock, valued at $57,933,419.56. The trade was a 0.61% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Intercorp Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Helikon Investments Ltd increased its stake in Intercorp Financial Services by 21.9% in the 1st quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company's stock valued at $39,365,000 after buying an additional 213,392 shares during the last quarter. Acadian Asset Management LLC increased its stake in Intercorp Financial Services by 14.1% in the 2nd quarter. Acadian Asset Management LLC now owns 986,309 shares of the company's stock valued at $37,566,000 after buying an additional 122,219 shares during the last quarter. Millennium Management LLC increased its stake in Intercorp Financial Services by 2,109.3% in the 4th quarter. Millennium Management LLC now owns 556,972 shares of the company's stock valued at $16,342,000 after buying an additional 531,762 shares during the last quarter. Marshall Wace LLP increased its stake in Intercorp Financial Services by 108.1% in the 2nd quarter. Marshall Wace LLP now owns 519,319 shares of the company's stock valued at $19,802,000 after buying an additional 269,712 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Intercorp Financial Services by 91.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 502,912 shares of the company's stock valued at $19,176,000 after buying an additional 239,920 shares during the last quarter.

About Intercorp Financial Services

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.