Candriam S.C.A. Reduces Stake in Banco Macro S.A. (NYSE:BMA)

Candriam S.C.A. lowered its position in Banco Macro S.A. (NYSE:BMA - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 393,300 shares of the bank's stock after selling 177,400 shares during the period. Candriam S.C.A. owned approximately 0.62% of Banco Macro worth $38,056,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Banco Macro in the fourth quarter worth $63,000. GAMMA Investing LLC boosted its position in shares of Banco Macro by 136.1% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank's stock worth $76,000 after purchasing an additional 452 shares in the last quarter. Blue Trust Inc. grew its stake in Banco Macro by 171.6% during the 4th quarter. Blue Trust Inc. now owns 1,939 shares of the bank's stock worth $188,000 after buying an additional 1,225 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new position in Banco Macro during the 4th quarter valued at about $199,000. Finally, Alliance Wealth Advisors LLC UT purchased a new stake in Banco Macro in the fourth quarter valued at about $207,000.

Banco Macro Stock Performance

Shares of NYSE:BMA traded down $5.08 on Monday, hitting $80.17. 392,493 shares of the company were exchanged, compared to its average volume of 364,951. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The stock's 50 day moving average price is $98.08 and its 200 day moving average price is $83.84. Banco Macro S.A. has a 1-year low of $38.55 and a 1-year high of $118.42. The firm has a market capitalization of $5.12 billion, a P/E ratio of 7.03 and a beta of 1.73.

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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 target on the stock in a research note on Monday, December 16th.

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.