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

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 2,840,000 shares, a decrease of 17.0% from the February 13th total of 3,420,000 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vident Advisory LLC bought a new stake in shares of Grupo Financiero Galicia during the fourth quarter worth 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 grew its stake in shares of Grupo Financiero Galicia by 14.5% in the fourth quarter. PointState Capital LP now owns 577,337 shares of the bank’s stock worth $35,980,000 after purchasing an additional 73,168 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Grupo Financiero Galicia by 19.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,222,938 shares of the bank’s stock worth $76,213,000 after purchasing an additional 196,270 shares during the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. bought a new position in Grupo Financiero Galicia during the 4th quarter worth $483,000.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL traded down $0.85 during trading on Thursday, hitting $56.87. 67,486 shares of the company were exchanged, compared to its average volume of 1,039,469. Grupo Financiero Galicia has a 1-year low of $23.53 and a 1-year high of $74.00. The company has a market capitalization of $8.39 billion, a P/E ratio of 8.38 and a beta of 1.85. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $62.35 and its 200-day moving average is $56.56.

Analysts Set New Price Targets

Separately, Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 target price for the company in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.00.

About Grupo Financiero Galicia

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.