Short Interest in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Declines By 17.0%

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 2,840,000 shares, a drop of 17.0% from the February 13th total of 3,420,000 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is presently 2.5 days.

Hedge Funds Weigh In On Grupo Financiero Galicia

Several institutional investors have recently bought and sold shares of GGAL. Hsbc Holdings PLC raised its holdings in Grupo Financiero Galicia by 9,082.3% during the fourth quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank’s stock valued at $721,935,000 after buying an additional 11,366,972 shares in the last quarter. Axiom Investors LLC DE grew its position in shares of Grupo Financiero Galicia by 1,723.9% in the fourth 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 last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at about $78,711,000. Jennison Associates LLC acquired a new stake in shares of Grupo Financiero Galicia in the third quarter valued at about $51,416,000. Finally, William Blair Investment Management LLC grew its position in shares of Grupo Financiero Galicia by 778.9% in the fourth 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 last quarter.

Analysts Set New Price Targets

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

Grupo Financiero Galicia Stock Down 6.0 %

NASDAQ GGAL traded down $3.49 during trading on Tuesday, hitting $54.81. 1,457,874 shares of the company traded hands, compared to its average volume of 1,042,510. Grupo Financiero Galicia has a 12 month low of $23.42 and a 12 month high of $74.00. The business has a fifty day simple moving average of $62.96 and a 200 day simple moving average of $56.45. 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 market capitalization of $8.08 billion, a P/E ratio of 8.07 and a beta of 1.85.

Grupo Financiero Galicia Company Profile

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.