Verition Fund Management LLC Decreases Stock Position in Inter & Co, Inc. (NASDAQ:INTR)

Verition Fund Management LLC decreased its position in shares of Inter & Co, Inc. (NASDAQ:INTR) by 48.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 114,375 shares of the company’s stock after selling 106,111 shares during the period. Verition Fund Management LLC’s holdings in Inter & Co, Inc. were worth $762,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of Inter & Co, Inc. by 4,711.6% during the third quarter. Citigroup Inc. now owns 1,061,289 shares of the company’s stock valued at $7,068,000 after acquiring an additional 1,039,232 shares in the last quarter. Van ECK Associates Corp purchased a new position in Inter & Co, Inc. in the third quarter valued at about $741,000. Handelsbanken Fonder AB acquired a new stake in Inter & Co, Inc. during the 3rd quarter valued at approximately $603,000. Public Sector Pension Investment Board purchased a new stake in Inter & Co, Inc. during the 3rd quarter worth approximately $1,373,000. Finally, Samlyn Capital LLC raised its position in shares of Inter & Co, Inc. by 4.1% in the 2nd quarter. Samlyn Capital LLC now owns 4,994,031 shares of the company’s stock valued at $30,713,000 after purchasing an additional 196,355 shares in the last quarter. Institutional investors and hedge funds own 22.90% of the company’s stock.

Inter & Co, Inc. Stock Down 2.9 %

Shares of Inter & Co, Inc. stock opened at $4.30 on Tuesday. The business has a 50-day moving average price of $5.98 and a 200 day moving average price of $6.41. Inter & Co, Inc. has a fifty-two week low of $4.27 and a fifty-two week high of $7.84. The firm has a market cap of $1.87 billion, a P/E ratio of 12.29 and a beta of 1.25. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $7.50 to $8.50 in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Inter & Co, Inc. currently has an average rating of “Buy” and an average target price of $7.56.

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.