9,026 Shares in Banco Macro S.A. (NYSE:BMA) Purchased by Freedom Investment Management Inc.

Freedom Investment Management Inc. bought a new stake in shares of Banco Macro S.A. (NYSE:BMA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,026 shares of the bank’s stock, valued at approximately $573,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beverly Hills Private Wealth LLC grew its stake in Banco Macro by 6.2% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock valued at $316,000 after acquiring an additional 323 shares in the last quarter. Blue Trust Inc. grew its position in shares of Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after purchasing an additional 387 shares in the last quarter. Sigma Planning Corp increased its holdings in shares of Banco Macro by 6.7% in the third quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock valued at $398,000 after purchasing an additional 395 shares during the last quarter. Diversify Wealth Management LLC lifted its position in Banco Macro by 4.3% during the third quarter. Diversify Wealth Management LLC now owns 16,657 shares of the bank’s stock worth $1,058,000 after buying an additional 693 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Banco Macro during the second quarter worth $51,000.

Banco Macro Stock Performance

Shares of Banco Macro stock opened at $84.90 on Friday. The business’s fifty day simple moving average is $75.22 and its 200-day simple moving average is $64.15. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.43 billion, a PE ratio of 8.30 and a beta of 1.77. Banco Macro S.A. has a 52 week low of $24.41 and a 52 week high of $86.12.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BMA. StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $78.00 in a research note on Friday, August 30th. Finally, Bank of America upgraded shares of Banco Macro from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $62.00 in a report on Thursday, August 8th.

Banco Macro Company Profile

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.