Banco Macro S.A. (NYSE:BMA) Short Interest Update

Banco Macro S.A. (NYSE:BMA) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 454,700 shares, a growth of 81.6% from the February 28th total of 250,400 shares. Based on an average daily volume of 329,400 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.7% of the company’s stock are sold short.

Banco Macro Stock Performance

Shares of BMA traded down $1.68 during midday trading on Friday, reaching $78.50. 200,183 shares of the stock were exchanged, compared to its average volume of 333,531. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 6.88 and a beta of 1.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. Banco Macro has a twelve month low of $42.23 and a twelve month high of $118.42. The business’s 50-day moving average price is $89.96 and its 200 day moving average price is $85.98.

Hedge Funds Weigh In On Banco Macro

A number of hedge funds have recently modified their holdings of the business. TT International Asset Management LTD grew its position in Banco Macro by 86.6% in the 4th quarter. TT International Asset Management LTD now owns 1,141,086 shares of the bank’s stock valued at $110,411,000 after buying an additional 529,610 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Banco Macro by 136.1% in the 4th quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank’s stock worth $55,188,000 after acquiring an additional 328,800 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Banco Macro by 84.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank’s stock valued at $52,161,000 after acquiring an additional 247,070 shares in the last quarter. Cape Ann Asset Management Ltd acquired a new position in shares of Banco Macro during the fourth quarter worth about $20,203,000. Finally, Gemsstock Ltd. purchased a new position in Banco Macro during the fourth quarter worth about $15,349,000.

Analysts Set New Price Targets

Separately, Morgan Stanley raised shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective on the stock in a report on Monday, December 16th.

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.