Inter & Co. Inc. (NASDAQ:INTR) Shares Gap Up - What's Next?

Key Points

• Inter & Co. shares surged 23.7%, opening at $6.51 versus a prior close of $5.48 and later trading around $6.75 on volume of roughly 5.7 million shares.
• Analysts maintain a “Moderate Buy” consensus with a $9.16 average price target; UBS reduced its target to $8.80 while keeping a Buy rating, and ratings are split between three Buys and three Holds.
• The company slightly exceeded quarterly EPS expectations, reporting $0.19 versus $0.18 expected, although revenue of $475.45 million fell short of the $513.31 million consensus estimate. Institutional investors own 22.9% of the stock, with several funds recently increasing their positions.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report)'s stock price gapped up prior to trading on Monday. The stock had previously closed at $5.48, but opened at $6.51. Inter & Co. Inc. shares last traded at $6.7470, with a volume of 5,684,501 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on INTR shares. Weiss Ratings lowered Inter & Co. Inc. from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, July 10th. UBS Group lowered their price objective on Inter & Co. Inc. from $9.40 to $8.80 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $9.16.

Inter & Co. Inc. Stock Up 23.7%

The company has a market capitalization of $2.99 billion, a PE ratio of 10.33, a P/E/G ratio of 0.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.90. The company's 50-day moving average is $5.45 and its 200 day moving average is $6.22.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $475.45 million during the quarter, compared to analysts' expectations of $513.31 million. Inter & Co. Inc. had a net margin of 11.23% and a return on equity of 14.94%. As a group, analysts anticipate that Inter & Co. Inc. will post 0.75 EPS for the current year.

Hedge Funds Weigh In On Inter & Co. Inc.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in Inter & Co. Inc. by 16.2% during the 2nd quarter. Wellington Management Group LLP now owns 6,472,694 shares of the company's stock valued at $35,147,000 after purchasing an additional 904,682 shares during the last quarter. Squadra Investments Gestao DE Recursos LTDA. lifted its holdings in shares of Inter & Co. Inc. by 1.1% during the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 6,320,952 shares of the company's stock valued at $50,315,000 after purchasing an additional 67,500 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its holdings in shares of Inter & Co. Inc. by 1,059.2% during the first quarter. SPX Gestao de Recursos Ltda now owns 4,023,802 shares of the company's stock valued at $32,029,000 after purchasing an additional 3,676,696 shares in the last quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. purchased a new stake in shares of Inter & Co. Inc. during the second quarter valued at $13,267,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Inter & Co. Inc. by 7.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,433,539 shares of the company's stock valued at $19,371,000 after buying an additional 170,649 shares during the last quarter. 22.90% of the stock is owned by institutional investors.

About Inter & Co. Inc.

Inter & Co Inc is a technology and financial services company that operates the Inter platform, a digital banking and commerce ecosystem serving customers primarily in Brazil. The company provides financial products through a mobile application designed to bring banking, payments and other consumer services together in one platform.

Its offerings include digital checking accounts, payment services, credit cards, personal and payroll loans, mortgages, insurance, foreign-exchange services and investment products.

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