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

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) gapped up before the market opened on Friday . The stock had previously closed at $56.82, but opened at $58.41. Grupo Financiero Galicia shares last traded at $58.08, with a volume of 59,014 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Morgan Stanley upgraded Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 target price for the company in a report on Monday, December 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Grupo Financiero Galicia Stock Performance

The firm’s 50 day moving average is $64.22 and its 200 day moving average is $55.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $8.30 billion, a P/E ratio of 8.28 and a beta of 1.85.

Institutional Trading of Grupo Financiero Galicia

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Grupo Financiero Galicia by 267.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,505 shares of the bank’s stock valued at $3,894,000 after buying an additional 67,312 shares in the last quarter. SMART Wealth LLC purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at approximately $295,000. Verde Servicos Internacionais S.A. purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at approximately $686,000. Deltec Asset Management LLC acquired a new stake in Grupo Financiero Galicia in the 4th quarter worth approximately $262,000. Finally, Nkcfo LLC acquired a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at $312,000.

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.