Intercorp Financial Services Inc. (NYSE:IFS) Sees Large Growth in Short Interest

Intercorp Financial Services Inc. (NYSE:IFS) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 102,900 shares, a growth of 121.3% from the October 31st total of 46,500 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 148,700 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their price objective on Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, September 12th.

Intercorp Financial Services Stock Down 1.0 %

IFS stock traded down $0.29 during midday trading on Friday, reaching $27.75. The stock had a trading volume of 38,589 shares, compared to its average volume of 111,153. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a fifty day simple moving average of $27.18 and a two-hundred day simple moving average of $24.56. Intercorp Financial Services has a 52-week low of $18.60 and a 52-week high of $30.59.

Insider Buying and Selling at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 247,311 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $19.65 per share, for a total transaction of $4,859,661.15. Following the acquisition, the insider now owns 1,842,999 shares in the company, valued at approximately $36,214,930.35. This trade represents a 15.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Intercorp Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Helikon Investments Ltd raised its stake in shares of Intercorp Financial Services by 208.5% during the 2nd quarter. Helikon Investments Ltd now owns 781,345 shares of the company’s stock valued at $17,510,000 after buying an additional 528,099 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Intercorp Financial Services by 351.5% during the 3rd quarter. Principal Financial Group Inc. now owns 231,269 shares of the company’s stock valued at $6,043,000 after acquiring an additional 180,043 shares during the period. Citigroup Inc. grew its position in shares of Intercorp Financial Services by 466.7% during the 3rd quarter. Citigroup Inc. now owns 213,392 shares of the company’s stock valued at $5,591,000 after acquiring an additional 175,734 shares during the period. Marshall Wace LLP grew its position in shares of Intercorp Financial Services by 544.1% during the 2nd quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock valued at $1,891,000 after acquiring an additional 71,277 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Intercorp Financial Services during the 1st quarter valued at about $458,000.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.