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

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) gapped down before the market opened on Tuesday . The stock had previously closed at $58.80, but opened at $56.09. Grupo Financiero Galicia shares last traded at $58.39, with a volume of 463,823 shares.

Analyst Ratings Changes

GGAL has been the subject of several research analyst reports. Morgan Stanley upgraded shares of 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. StockNews.com lowered shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Grupo Financiero Galicia Price Performance

The business has a 50 day moving average of $65.64 and a 200 day moving average of $53.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at about $27,000. CIBC Private Wealth Group LLC bought a new position in Grupo Financiero Galicia during the fourth quarter worth about $34,000. Compass Group LLC acquired a new stake in Grupo Financiero Galicia during the fourth quarter valued at approximately $67,000. GeoWealth Management LLC bought a new stake in shares of Grupo Financiero Galicia in the 4th quarter valued at approximately $71,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Grupo Financiero Galicia by 41.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,134 shares of the bank’s stock worth $136,000 after buying an additional 624 shares in the last quarter.

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.