Banco Macro (NYSE:BMA) Stock Price Up 6% – Still a Buy?

Banco Macro S.A. (NYSE:BMA) rose 6% during mid-day trading on Tuesday . The company traded as high as $114.08 and last traded at $113.45. Approximately 192,612 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 366,956 shares. The stock had previously closed at $107.00.

Analyst Ratings Changes

BMA has been the subject of a number of research analyst reports. Morgan Stanley raised Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price for the company in a research report on Monday, December 16th. StockNews.com cut Banco Macro from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

Banco Macro Stock Up 7.6 %

The business has a 50-day simple moving average of $91.98 and a two-hundred day simple moving average of $72.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 10.09 and a beta of 1.68.

Institutional Trading of Banco Macro

A number of hedge funds have recently added to or reduced their stakes in the stock. TT International Asset Management LTD lifted its position in Banco Macro by 86.6% during the 4th quarter. TT International Asset Management LTD now owns 1,141,086 shares of the bank’s stock worth $110,411,000 after acquiring an additional 529,610 shares during the period. GAMMA Investing LLC raised its stake in shares of Banco Macro by 136.1% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock worth $76,000 after buying an additional 452 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Banco Macro by 139.3% during the 3rd quarter. Tidal Investments LLC now owns 14,904 shares of the bank’s stock worth $946,000 after buying an additional 8,675 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Banco Macro during the 3rd quarter worth approximately $644,000. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Banco Macro by 300.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 15,333 shares of the bank’s stock worth $974,000 after buying an additional 11,507 shares in the last quarter.

About Banco Macro

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.