Banco Macro (NYSE:BMA) Stock Price Up 6% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on BMA shares. Morgan Stanley upgraded shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price on the stock in a research report on Monday, December 16th. StockNews.com downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

Banco Macro Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The firm has a 50-day simple moving average of $94.01 and a two-hundred day simple moving average of $73.36. The company has a market cap of $7.13 billion, a PE ratio of 9.77 and a beta of 1.68.

Institutional Trading of Banco Macro

A number of hedge funds have recently bought and sold shares of BMA. Blue Trust Inc. boosted its holdings in shares of Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after purchasing an additional 387 shares during the last quarter. GAMMA Investing LLC lifted its position in Banco Macro by 136.1% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock worth $76,000 after buying an additional 452 shares during the period. NorthRock Partners LLC purchased a new stake in Banco Macro in the 3rd quarter valued at about $381,000. Sigma Planning Corp increased its stake in shares of Banco Macro by 6.7% during the 3rd quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock valued at $398,000 after acquiring an additional 395 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Banco Macro in the third quarter worth approximately $421,000.

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.