Grupo Supervielle (NYSE:SUPV) Shares Down 3.9%

Shares of Grupo Supervielle S.A. (NYSE:SUPV) dropped 3.9% during mid-day trading on Tuesday . The company traded as low as $7.95 and last traded at $7.96. Approximately 677,448 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,247,639 shares. The stock had previously closed at $8.28.

Analyst Upgrades and Downgrades

Separately, Bank of America upgraded Grupo Supervielle from an “underperform” rating to a “neutral” rating and set a $7.00 target price on the stock in a research note on Thursday, August 8th.

Grupo Supervielle Stock Down 4.5 %

The business’s 50 day moving average is $6.99 and its two-hundred day moving average is $6.54. The firm has a market capitalization of $722.50 million, a P/E ratio of 7.70 and a beta of 2.04.

Institutional Investors Weigh In On Grupo Supervielle

A number of hedge funds and other institutional investors have recently modified their holdings of SUPV. Mak Capital One LLC raised its position in Grupo Supervielle by 37.6% in the second quarter. Mak Capital One LLC now owns 2,054,581 shares of the company’s stock worth $13,930,000 after acquiring an additional 561,720 shares in the last quarter. Caxton Associates LP raised its position in Grupo Supervielle by 114.2% in the second quarter. Caxton Associates LP now owns 102,518 shares of the company’s stock worth $695,000 after acquiring an additional 54,651 shares in the last quarter. Ping Capital Management Inc. bought a new stake in Grupo Supervielle in the second quarter worth about $2,178,000. Acadian Asset Management LLC raised its position in Grupo Supervielle by 563.5% in the second quarter. Acadian Asset Management LLC now owns 201,552 shares of the company’s stock worth $1,366,000 after acquiring an additional 171,173 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Grupo Supervielle by 1,262.1% in the first quarter. BNP Paribas Financial Markets now owns 17,735 shares of the company’s stock worth $101,000 after acquiring an additional 16,433 shares in the last quarter.

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.