Short Interest in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Declines By 17.0%

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 2,840,000 shares, a drop of 17.0% from the February 13th total of 3,420,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On Grupo Financiero Galicia

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of Grupo Financiero Galicia by 267.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,505 shares of the bank’s stock worth $3,894,000 after acquiring an additional 67,312 shares in the last quarter. SMART Wealth LLC bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth $295,000. Verde Servicos Internacionais S.A. bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth $686,000. Deltec Asset Management LLC bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth $262,000. Finally, Nkcfo LLC bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth $312,000.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Grupo Financiero Galicia presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Grupo Financiero Galicia Price Performance

NASDAQ GGAL traded down $3.49 on Tuesday, reaching $54.81. 1,457,874 shares of the stock traded hands, compared to its average volume of 1,042,510. The firm’s fifty day simple moving average is $62.96 and its 200 day simple moving average is $56.45. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 8.07 and a beta of 1.85. Grupo Financiero Galicia has a 12 month low of $23.42 and a 12 month high of $74.00.

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.