Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price Down 6.8% – What’s Next?

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

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Grupo Financiero Galicia Stock Down 6.9 %

The stock has a market capitalization of $8.01 billion, a PE ratio of 7.95 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’s 50-day moving average is $62.96 and its 200 day moving average is $56.45.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGAL. Vident Advisory LLC purchased a new stake in Grupo Financiero Galicia during the 4th quarter valued at about $349,000. Two Sigma Investments LP lifted its holdings in shares of Grupo Financiero Galicia by 0.4% during the fourth quarter. Two Sigma Investments LP now owns 471,443 shares of the bank’s stock worth $29,380,000 after purchasing an additional 1,917 shares during the period. PointState Capital LP boosted its position in Grupo Financiero Galicia by 14.5% in the fourth quarter. PointState Capital LP now owns 577,337 shares of the bank’s stock valued at $35,980,000 after buying an additional 73,168 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Grupo Financiero Galicia by 19.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,222,938 shares of the bank’s stock worth $76,213,000 after buying an additional 196,270 shares during the period. Finally, Ewing Morris & Co. Investment Partners Ltd. purchased a new position in Grupo Financiero Galicia during the 4th quarter worth approximately $483,000.

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.