Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Sees Significant Decrease in Short Interest

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 2,840,000 shares, a decline of 17.0% from the February 13th total of 3,420,000 shares. Currently, 1.9% of the company's stock are sold short. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is presently 2.5 days.

Grupo Financiero Galicia Stock Up 3.9 %

Shares of Grupo Financiero Galicia stock traded up $2.20 during trading on Friday, reaching $58.56. The company had a trading volume of 763,907 shares, compared to its average volume of 1,042,323. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. Grupo Financiero Galicia has a fifty-two week low of $23.53 and a fifty-two week high of $74.00. The firm's fifty day moving average is $61.78 and its 200-day moving average is $56.70. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 8.62 and a beta of 1.85.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded 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, December 16th. One equities 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, Grupo Financiero Galicia presently has an average rating of "Moderate Buy" and a consensus price target of $59.00.

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Institutional Investors Weigh In On Grupo Financiero Galicia

A number of institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in Grupo Financiero Galicia by 9,082.3% in the fourth quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank's stock worth $721,935,000 after purchasing an additional 11,366,972 shares during the period. Axiom Investors LLC DE boosted its holdings in shares of Grupo Financiero Galicia by 1,723.9% in the 4th quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank's stock valued at $94,786,000 after buying an additional 1,437,570 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at about $78,711,000. Jennison Associates LLC grew its position in shares of Grupo Financiero Galicia by 2.2% during the 4th quarter. Jennison Associates LLC now owns 1,248,936 shares of the bank's stock valued at $77,834,000 after buying an additional 27,353 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Grupo Financiero Galicia by 19.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,222,938 shares of the bank's stock worth $76,213,000 after acquiring an additional 196,270 shares during the period.

Grupo Financiero Galicia Company Profile

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.