Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) dropped 5.9% on Friday . The company traded as low as $31.29 and last traded at $31.96. Approximately 1,112,562 shares changed hands during trading, an increase of 76% from the average daily volume of 631,822 shares. The stock had previously closed at $33.95.
GGAL has been the subject of a number of recent analyst reports. UBS Group upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research report on Friday, May 25th. ValuEngine downgraded Grupo Financiero Galicia from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Finally, BidaskClub downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $87.00.
The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.24.
Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in shares of Grupo Financiero Galicia by 69.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the bank’s stock worth $199,000 after buying an additional 1,243 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Grupo Financiero Galicia during the 1st quarter worth $207,000. Verition Fund Management LLC acquired a new position in Grupo Financiero Galicia in the 1st quarter worth about $216,000. NN Investment Partners Holdings N.V. increased its holdings in Grupo Financiero Galicia by 62.4% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 6,900 shares of the bank’s stock worth $228,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new position in Grupo Financiero Galicia in the 2nd quarter worth about $234,000. 30.48% of the stock is owned by institutional investors.
Grupo Financiero Galicia Company Profile
Grupo Financiero Galicia SA, a financial services holding company, provides various financial products and services in Argentina. The company operates through Banking, Regional Credit Cards, Insurance, and Other Grupo Galicia Businesses segments. It offers corporate banking services to companies; credit and debit cards, loans, and financing advice to various agricultural-sector clients; foreign trade transaction services; and e-banking services.
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