Grupo Financiero Galicia (NASDAQ:GGAL) Shares Gap Up – Here’s What Happened

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $57.78, but opened at $59.54. Grupo Financiero Galicia shares last traded at $59.00, with a volume of 264,710 shares trading hands.

Wall Street Analysts Forecast Growth

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 report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Grupo Financiero Galicia currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Grupo Financiero Galicia Trading Down 2.1 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a fifty day simple moving average of $61.07 and a two-hundred day simple moving average of $57.16. The firm has a market capitalization of $8.34 billion, a P/E ratio of 8.33 and a beta of 1.85.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several institutional investors have recently added to or reduced their stakes in GGAL. Hsbc Holdings PLC lifted its stake in shares of Grupo Financiero Galicia by 9,082.3% during the 4th quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank’s stock valued at $721,935,000 after buying an additional 11,366,972 shares in the last quarter. Axiom Investors LLC DE boosted its holdings in shares of Grupo Financiero Galicia by 1,723.9% in the fourth quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank’s stock worth $94,786,000 after acquiring an additional 1,437,570 shares during the period. Canada Pension Plan Investment Board purchased a new position in Grupo Financiero Galicia during the 4th quarter valued at about $78,711,000. William Blair Investment Management LLC increased its position in shares of Grupo Financiero Galicia by 778.9% during the fourth quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank’s stock valued at $56,152,000 after buying an additional 798,542 shares during the period. Finally, Fourth Sail Capital LP purchased a new stake in shares of Grupo Financiero Galicia in the fourth quarter worth about $27,369,000.

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.