Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Short Interest Update

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the target of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 2,850,000 shares, a drop of 6.3% from the May 15th total of 3,040,000 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is presently 2.7 days. Approximately 2.4% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, StockNews.com raised Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ GGAL opened at $34.83 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $33.05 and a 200 day moving average price of $24.91. Grupo Financiero Galicia has a 1-year low of $10.57 and a 1-year high of $37.83.

Grupo Financiero Galicia Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 21st will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 21st. This is an increase from Grupo Financiero Galicia’s previous Variable dividend of $0.12.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several hedge funds have recently modified their holdings of the stock. Rokos Capital Management LLP lifted its holdings in shares of Grupo Financiero Galicia by 58.7% during the first quarter. Rokos Capital Management LLP now owns 572,752 shares of the bank’s stock worth $14,559,000 after purchasing an additional 211,870 shares during the period. PEAK6 Investments LLC lifted its holdings in Grupo Financiero Galicia by 135.8% in the first quarter. PEAK6 Investments LLC now owns 64,480 shares of the bank’s stock valued at $1,639,000 after acquiring an additional 244,580 shares during the period. Headlands Technologies LLC acquired a new stake in Grupo Financiero Galicia in the first quarter valued at $67,000. INCA Investments LLC lifted its holdings in Grupo Financiero Galicia by 27.6% in the first quarter. INCA Investments LLC now owns 1,078,149 shares of the bank’s stock valued at $27,407,000 after acquiring an additional 232,980 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Grupo Financiero Galicia by 266.5% in the first quarter. BNP Paribas Financial Markets now owns 338,939 shares of the bank’s stock valued at $8,616,000 after acquiring an additional 246,452 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.