Grupo Supervielle (NYSE:SUPV) Sets New 52-Week High - Here's Why

Grupo Supervielle S.A. (NYSE:SUPV - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.20 and last traded at $18.33, with a volume of 2476928 shares changing hands. The stock had previously closed at $17.64.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SUPV. Morgan Stanley upgraded shares of Grupo Supervielle from an "underweight" rating to an "overweight" rating and set a $19.00 price objective for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. raised shares of Grupo Supervielle from an "underweight" rating to a "neutral" rating and set a $15.00 price target for the company in a research report on Thursday, December 12th.

Grupo Supervielle Stock Up 1.3 %

The stock has a fifty day simple moving average of $12.61 and a 200-day simple moving average of $9.05. The company has a market capitalization of $1.69 billion, a P/E ratio of 25.76 and a beta of 1.96.

Institutional Investors Weigh In On Grupo Supervielle

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mak Capital One LLC increased its holdings in shares of Grupo Supervielle by 37.6% in the second quarter. Mak Capital One LLC now owns 2,054,581 shares of the company's stock valued at $13,930,000 after purchasing an additional 561,720 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Grupo Supervielle by 129.3% during the third quarter. JPMorgan Chase & Co. now owns 374,515 shares of the company's stock worth $2,663,000 after acquiring an additional 211,166 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Grupo Supervielle by 563.5% during the second quarter. Acadian Asset Management LLC now owns 201,552 shares of the company's stock valued at $1,366,000 after acquiring an additional 171,173 shares during the period. Point72 Asset Management L.P. bought a new position in Grupo Supervielle in the third quarter valued at about $995,000. Finally, Jane Street Group LLC acquired a new stake in Grupo Supervielle in the third quarter worth about $749,000.

About Grupo Supervielle

Grupo Supervielle SA, a financial services holding company, provides various banking products and services in Argentina. The company operates through Personal & Business Banking, Corporate Banking, Bank Treasury, Consumer Finance, Insurance, and Asset Management and Other Services segments. It offers savings accounts, time and demand deposits, and checking accounts; various loan products, including personal, consumer, mortgage, unsecured, and car loans; overdrafts; loans with special facilities for project and working capital financing; and leasing, bank guarantees for tenants, salary advances, domestic and international factoring, international guarantees and letters of credit, payroll payment plans, credit and debit cards, and senior citizens benefit payment services, as well as financial services and investments, such as mutual funds and guarantees.