Cape Ann Asset Management Ltd Takes Position in Banco Macro S.A. (NYSE:BMA)

Cape Ann Asset Management Ltd bought a new position in shares of Banco Macro S.A. (NYSE:BMA - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 208,800 shares of the bank's stock, valued at approximately $20,203,000. Banco Macro makes up approximately 12.7% of Cape Ann Asset Management Ltd's investment portfolio, making the stock its 4th largest position. Cape Ann Asset Management Ltd owned about 0.33% of Banco Macro at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Banco Macro in the fourth quarter valued at approximately $63,000. GAMMA Investing LLC lifted its position in Banco Macro by 136.1% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank's stock worth $76,000 after buying an additional 452 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of 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 bought a new position in shares of Banco Macro in the 4th quarter valued at about $199,000. Finally, Alliance Wealth Advisors LLC UT acquired a new stake in shares of Banco Macro in the fourth quarter valued at about $207,000.

Banco Macro Stock Performance

NYSE BMA traded up $2.27 on Friday, hitting $84.95. 269,598 shares of the stock were exchanged, compared to its average volume of 364,320. The company has a market capitalization of $5.43 billion, a PE ratio of 7.44 and a beta of 1.67. 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's fifty day moving average is $98.38 and its 200 day moving average is $83.27. Banco Macro S.A. has a 52 week low of $38.55 and a 52 week high of $118.42.

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Analysts Set New Price Targets

Separately, Morgan Stanley raised Banco Macro from an "underweight" rating to an "overweight" rating and set a $12.50 price target for the company in a research report on Monday, December 16th.

Banco Macro Profile

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.