Short Interest in Banco Macro S.A. (NYSE:BMA) Rises By 81.6%

Banco Macro S.A. (NYSE:BMA) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 454,700 shares, an increase of 81.6% from the February 28th total of 250,400 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 329,400 shares, the short-interest ratio is currently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BMA. TT International Asset Management LTD boosted its holdings in shares of Banco Macro by 86.6% in the 4th quarter. TT International Asset Management LTD now owns 1,141,086 shares of the bank’s stock valued at $110,411,000 after purchasing an additional 529,610 shares in the last quarter. William Blair Investment Management LLC raised its stake in Banco Macro by 136.1% during the fourth quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank’s stock worth $55,188,000 after acquiring an additional 328,800 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Banco Macro by 84.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank’s stock worth $52,161,000 after acquiring an additional 247,070 shares during the last quarter. Cape Ann Asset Management Ltd acquired a new stake in shares of Banco Macro in the 4th quarter valued at approximately $20,203,000. Finally, Gemsstock Ltd. acquired a new position in Banco Macro during the 4th quarter worth approximately $15,349,000.

Banco Macro Price Performance

Banco Macro stock traded down $1.68 during trading hours on Friday, reaching $78.50. 200,183 shares of the stock were exchanged, compared to its average volume of 333,531. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. Banco Macro has a twelve month low of $42.23 and a twelve month high of $118.42. The company has a market cap of $5.02 billion, a P/E ratio of 6.88 and a beta of 1.73. The stock has a 50 day moving average of $89.96 and a two-hundred day moving average of $86.15.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price target on the stock in a research report on Monday, December 16th.

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.