Short Interest in Inter & Co, Inc. (NASDAQ:INTR) Drops By 12.9%

Inter & Co, Inc. (NASDAQ:INTR) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 5,270,000 shares, a decline of 12.9% from the October 15th total of 6,050,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,020,000 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Trading of Inter & Co, Inc.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Samlyn Capital LLC increased its position in Inter & Co, Inc. by 4.1% during the second quarter. Samlyn Capital LLC now owns 4,994,031 shares of the company’s stock worth $30,713,000 after buying an additional 196,355 shares during the period. Millennium Management LLC grew its position in shares of Inter & Co, Inc. by 70.7% during the second quarter. Millennium Management LLC now owns 4,512,367 shares of the company’s stock worth $27,751,000 after acquiring an additional 1,868,527 shares during the last quarter. State Street Corp increased its holdings in shares of Inter & Co, Inc. by 254.0% in the 3rd quarter. State Street Corp now owns 3,339,841 shares of the company’s stock valued at $22,243,000 after acquiring an additional 2,396,448 shares during the period. Marshall Wace LLP raised its position in Inter & Co, Inc. by 152.9% in the 2nd quarter. Marshall Wace LLP now owns 2,309,503 shares of the company’s stock valued at $14,203,000 after purchasing an additional 1,396,317 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Inter & Co, Inc. by 436.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,672,833 shares of the company’s stock worth $11,060,000 after purchasing an additional 1,361,258 shares during the period. 22.90% of the stock is owned by hedge funds and other institutional investors.

Inter & Co, Inc. Stock Up 0.7 %

Shares of Inter & Co, Inc. stock traded up $0.04 during trading hours on Monday, hitting $6.03. The company had a trading volume of 1,129,748 shares, compared to its average volume of 1,414,408. Inter & Co, Inc. has a twelve month low of $4.32 and a twelve month high of $7.84. The company has a market cap of $2.62 billion, a P/E ratio of 17.09 and a beta of 1.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50-day moving average is $6.60 and its two-hundred day moving average is $6.51.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INTR. UBS Group increased their target price on Inter & Co, Inc. from $6.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $7.50 to $8.50 in a research note on Wednesday, October 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Inter & Co, Inc. presently has a consensus rating of “Buy” and an average price target of $7.56.

About Inter & Co, Inc.

Inter & Co, Inc, through its subsidiaries, engages in the banking and spending, investments, insurance brokerage businesses. The company's Banking & Spending segment offers banking products and services, including checking accounts, cards, deposits, loans and advances, and other services.