Grupo Financiero Galicia (NASDAQ:GGAL) Sees Unusually-High Trading Volume - Here's Why

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) saw unusually-high trading volume on Monday . Approximately 888,280 shares changed hands during mid-day trading, a decline of 14% from the previous session's volume of 1,027,839 shares.The stock last traded at $67.56 and had previously closed at $62.32.

Analyst Ratings Changes

Several brokerages have recently weighed in on GGAL. Citigroup raised shares of Grupo Financiero Galicia from a "neutral" rating to a "buy" rating and set a $54.00 price target for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised shares of Grupo Financiero Galicia from an "underweight" rating to an "overweight" rating and set a $54.00 target price for the company in a research report on Friday, August 30th. StockNews.com cut shares of Grupo Financiero Galicia from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. Finally, Morgan Stanley upgraded shares of Grupo Financiero Galicia from an "underweight" rating to an "overweight" rating and set a $92.00 price objective for the company in a research note on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.00.

Grupo Financiero Galicia Stock Performance

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The company's 50-day simple moving average is $54.02 and its 200-day simple moving average is $41.56.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors have recently bought and sold shares of the business. INCA Investments LLC boosted its position in Grupo Financiero Galicia by 1.8% during the third quarter. INCA Investments LLC now owns 1,373,576 shares of the bank's stock worth $57,814,000 after purchasing an additional 24,354 shares during the period. Jennison Associates LLC bought a new stake in shares of Grupo Financiero Galicia during the 3rd quarter worth about $51,416,000. Ping Capital Management Inc. acquired a new position in Grupo Financiero Galicia in the 2nd quarter valued at about $23,611,000. BNP Paribas Financial Markets raised its holdings in Grupo Financiero Galicia by 103.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 625,003 shares of the bank's stock valued at $26,306,000 after acquiring an additional 318,326 shares during the period. Finally, PointState Capital LP raised its holdings in Grupo Financiero Galicia by 15.8% in the 3rd quarter. PointState Capital LP now owns 504,169 shares of the bank's stock valued at $21,220,000 after acquiring an additional 68,658 shares during the period.

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.