Allspring Global Investments Holdings LLC Takes Position in Inter & Co, Inc. (NASDAQ:INTR)

Allspring Global Investments Holdings LLC bought a new stake in shares of Inter & Co, Inc. (NASDAQ:INTR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 13,625 shares of the company’s stock, valued at approximately $91,000.

Several other hedge funds have also bought and sold shares of the stock. Handelsbanken Fonder AB purchased a new position in shares of Inter & Co, Inc. in the third quarter worth $603,000. SG Americas Securities LLC purchased a new position in shares of Inter & Co, Inc. in the third quarter worth $1,358,000. Millennium Management LLC increased its stake in shares of Inter & Co, Inc. by 70.7% in the second quarter. Millennium Management LLC now owns 4,512,367 shares of the company’s stock worth $27,751,000 after buying an additional 1,868,527 shares during the period. Squarepoint Ops LLC increased its stake in shares of Inter & Co, Inc. by 46.4% in the second quarter. Squarepoint Ops LLC now owns 37,708 shares of the company’s stock worth $232,000 after buying an additional 11,949 shares during the period. Finally, Marshall Wace LLP increased its stake 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 worth $14,203,000 after buying an additional 1,396,317 shares during the period. 22.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INTR shares. UBS Group boosted their price objective on shares of 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. upgraded shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $7.50 to $8.50 in a report on Wednesday, October 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $7.56.

Inter & Co, Inc. Price Performance

INTR opened at $6.44 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $2.80 billion, a P/E ratio of 21.47 and a beta of 1.52. The company’s 50-day simple moving average is $6.80 and its two-hundred day simple moving average is $6.43. Inter & Co, Inc. has a 52-week low of $4.32 and a 52-week high of $7.84.

Inter & Co, Inc. (NASDAQ:INTR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Inter & Co, Inc. had a net margin of 8.85% and a return on equity of 7.85%. The firm had revenue of $283.71 million during the quarter, compared to analyst estimates of $264.62 million. As a group, analysts predict that Inter & Co, Inc. will post 0.36 EPS for the current year.

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.