Banco Macro S.A. (NYSE:BMA) Sees Large Increase in Short Interest

Banco Macro S.A. (NYSE:BMA) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 250,400 shares, an increase of 36.7% from the February 13th total of 183,200 shares. Based on an average daily trading volume, of 351,600 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective for the company in a report on Monday, December 16th.

Banco Macro Price Performance

Shares of Banco Macro stock traded down $3.16 during trading on Tuesday, hitting $79.94. The stock had a trading volume of 89,007 shares, compared to its average volume of 347,145. Banco Macro has a fifty-two week low of $42.22 and a fifty-two week high of $118.42. The firm has a market cap of $5.11 billion, a P/E ratio of 7.01 and a beta of 1.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The business has a fifty day moving average of $95.51 and a two-hundred day moving average of $85.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BMA. TT International Asset Management LTD increased its position in 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 worth $110,411,000 after purchasing an additional 529,610 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of Banco Macro in the 4th quarter worth approximately $735,000. Jane Street Group LLC bought a new stake in shares of Banco Macro in the 3rd quarter worth approximately $421,000. D.A. Davidson & CO. bought a new stake in shares of Banco Macro in the 4th quarter worth approximately $284,000. Finally, JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Banco Macro in the 4th quarter worth approximately $834,000.

About Banco Macro

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.