Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 975,472 shares, a drop of 35.9% from the January 12th total of 1,521,781 shares. Based on an average daily volume of 378,037 shares, the short-interest ratio is currently 2.6 days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Earnest Partners LLC purchased a new position in shares of Grupo Financiero Galicia in the fourth quarter worth about $198,000. Discovery Capital Management LLC CT increased its holdings in shares of Grupo Financiero Galicia by 36.7% in the fourth quarter. Discovery Capital Management LLC CT now owns 1,944,163 shares of the bank’s stock worth $128,023,000 after buying an additional 521,936 shares during the period. Jefferies Group LLC purchased a new position in shares of Grupo Financiero Galicia in the fourth quarter worth about $929,000. Dorsey Wright & Associates increased its holdings in shares of Grupo Financiero Galicia by 36.9% in the fourth quarter. Dorsey Wright & Associates now owns 137,798 shares of the bank’s stock worth $9,074,000 after buying an additional 37,106 shares during the period. Finally, Advisor Group Inc. increased its holdings in shares of Grupo Financiero Galicia by 25.9% in the fourth quarter. Advisor Group Inc. now owns 5,641 shares of the bank’s stock worth $372,000 after buying an additional 1,159 shares during the period. Hedge funds and other institutional investors own 31.69% of the company’s stock.
Grupo Financiero Galicia (NASDAQ GGAL) traded up $2.35 on Wednesday, hitting $64.41. The stock had a trading volume of 674,861 shares, compared to its average volume of 422,376. The stock has a market capitalization of $8,121.49, a P/E ratio of 19.96 and a beta of 1.19. Grupo Financiero Galicia has a 1 year low of $31.13 and a 1 year high of $73.45.
Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings data on Wednesday, November 29th. The bank reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.08. The company had revenue of $654.76 million during the quarter. research analysts predict that Grupo Financiero Galicia will post 3.47 earnings per share for the current year.
A number of equities research analysts have weighed in on GGAL shares. Zacks Investment Research downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Monday, November 20th. ValuEngine upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Bank of America started coverage on Grupo Financiero Galicia in a research report on Tuesday, January 23rd. They set a “buy” rating and a $100.00 price target on the stock. HSBC downgraded Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $87.00.
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About Grupo Financiero Galicia
Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).
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