Inter & Co, Inc. (NASDAQ:INTR) Shares Gap Down – Here’s Why

Shares of Inter & Co, Inc. (NASDAQ:INTR) gapped down before the market opened on Friday . The stock had previously closed at $5.28, but opened at $4.41. Inter & Co, Inc. shares last traded at $4.43, with a volume of 944,077 shares.

Analyst Ratings Changes

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

Inter & Co, Inc. Trading Down 12.9 %

The business has a 50 day moving average of $6.31 and a 200-day moving average of $6.50. The stock has a market cap of $2.00 billion, a PE ratio of 15.09 and a beta of 1.52. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01.

Institutional Trading of Inter & Co, Inc.

Several institutional investors and hedge funds have recently made changes to their positions in INTR. State Street Corp increased its position in Inter & Co, Inc. by 254.0% during the 3rd quarter. State Street Corp now owns 3,339,841 shares of the company’s stock worth $22,243,000 after purchasing an additional 2,396,448 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Inter & Co, Inc. by 70.7% during the 2nd quarter. Millennium Management LLC now owns 4,512,367 shares of the company’s stock worth $27,751,000 after purchasing an additional 1,868,527 shares during the last quarter. Fourth Sail Capital LP purchased a new stake in shares of Inter & Co, Inc. during the third quarter worth about $9,313,000. Marshall Wace LLP raised its position in shares of Inter & Co, Inc. by 152.9% in the second quarter. Marshall Wace LLP now owns 2,309,503 shares of the company’s stock valued at $14,203,000 after buying an additional 1,396,317 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Inter & Co, Inc. by 436.9% in the third quarter. Geode Capital Management LLC now owns 1,672,833 shares of the company’s stock valued at $11,060,000 after buying an additional 1,361,258 shares during the last quarter. 22.90% of the stock is currently owned by hedge funds and other institutional investors.

Inter & Co, Inc. Company Profile

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.