Banco Macro (NYSE:BMA) Trading Up 9.1% – What’s Next?

Banco Macro S.A. (NYSE:BMA)’s stock price shot up 9.1% during trading on Thursday . The company traded as high as $106.10 and last traded at $105.54. 157,569 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 343,362 shares. The stock had previously closed at $96.76.

Wall Street Analyst Weigh In

BMA has been the subject of several research reports. StockNews.com lowered Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Morgan Stanley raised shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective on the stock in a report on Monday, December 16th.

Banco Macro Stock Up 1.5 %

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 stock has a market capitalization of $7.08 billion, a P/E ratio of 9.71 and a beta of 1.68. The stock has a fifty day moving average price of $87.73 and a 200 day moving average price of $69.98.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Banco Macro by 136.1% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock worth $76,000 after purchasing an additional 452 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Banco Macro by 139.3% during the 3rd quarter. Tidal Investments LLC now owns 14,904 shares of the bank’s stock valued at $946,000 after acquiring an additional 8,675 shares during the last quarter. Virtu Financial LLC purchased a new position in Banco Macro in the 3rd quarter worth approximately $644,000. TT International Asset Management LTD increased its stake in Banco Macro by 21.9% in the third quarter. TT International Asset Management LTD now owns 611,476 shares of the bank’s stock valued at $38,828,000 after acquiring an additional 109,793 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of Banco Macro by 300.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 15,333 shares of the bank’s stock worth $974,000 after purchasing an additional 11,507 shares in the last quarter.

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.