Grupo Financiero Galicia (NASDAQ:GGAL) Shares Down 6.8% – Here’s Why

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s stock price traded down 6.8% during mid-day trading on Tuesday . The stock traded as low as $54.60 and last traded at $54.36. 664,201 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 1,039,527 shares. The stock had previously closed at $58.30.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target on the stock in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Grupo Financiero Galicia has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Grupo Financiero Galicia Price Performance

The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 8.30 and a beta of 1.85. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $62.35 and a 200 day moving average of $56.56.

Institutional Trading of Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently modified their holdings of GGAL. Hsbc Holdings PLC raised its stake in shares of Grupo Financiero Galicia by 9,082.3% in the 4th quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank’s stock valued at $721,935,000 after purchasing an additional 11,366,972 shares during the period. Axiom Investors LLC DE raised its stake in shares of Grupo Financiero Galicia by 1,723.9% in the 4th quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank’s stock valued at $94,786,000 after purchasing an additional 1,437,570 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Grupo Financiero Galicia in the 4th quarter valued at about $78,711,000. Jennison Associates LLC acquired a new stake in shares of Grupo Financiero Galicia in the 3rd quarter valued at about $51,416,000. Finally, William Blair Investment Management LLC raised its stake in shares of Grupo Financiero Galicia by 778.9% in the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank’s stock valued at $56,152,000 after purchasing an additional 798,542 shares during the period.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.