Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price Down 5.8% – Here’s What Happened

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price traded down 5.8% during trading on Tuesday . The company traded as low as $60.23 and last traded at $59.41. 118,453 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 1,040,505 shares. The stock had previously closed at $63.04.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. 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 report on Monday, December 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Grupo Financiero Galicia Trading Down 6.3 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. The business’s fifty day moving average price is $65.51 and its two-hundred day moving average price is $51.69.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several hedge funds have recently modified their holdings of the business. Virtu Financial LLC boosted its position in shares of Grupo Financiero Galicia by 86.5% in the fourth quarter. Virtu Financial LLC now owns 17,331 shares of the bank’s stock valued at $1,080,000 after acquiring an additional 8,036 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in shares of Grupo Financiero Galicia in the 4th quarter worth approximately $906,000. William Blair Investment Management LLC lifted its position in shares of Grupo Financiero Galicia by 778.9% in the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank’s stock worth $56,152,000 after acquiring an additional 798,542 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Grupo Financiero Galicia by 11.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,102 shares of the bank’s stock worth $380,000 after acquiring an additional 618 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Grupo Financiero Galicia by 60,716.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,298 shares of the bank’s stock worth $455,000 after acquiring an additional 7,286 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.