Banco Macro S.A. (NYSE:BMA) Short Interest Down 8.7% in November

Banco Macro S.A. (NYSE:BMA) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 572,600 shares, a drop of 8.7% from the November 15th total of 627,000 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 275,400 shares, the days-to-cover ratio is presently 2.1 days.

Banco Macro Stock Performance

Shares of BMA opened at $106.26 on Wednesday. Banco Macro has a 1 year low of $24.41 and a 1 year high of $108.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The stock’s fifty day moving average price is $80.09 and its two-hundred day moving average price is $66.22. The firm has a market cap of $6.79 billion, a PE ratio of 9.30 and a beta of 1.75.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BMA. Morgan Stanley upgraded Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective for the company in a research note on Monday. JPMorgan Chase & Co. upgraded shares of Banco Macro from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $78.00 in a report on Friday, August 30th. Finally, StockNews.com lowered shares of Banco Macro from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

Institutional Investors Weigh In On Banco Macro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after acquiring an additional 387 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Banco Macro in the 2nd quarter worth about $51,000. Headlands Technologies LLC grew its holdings in Banco Macro by 262.0% during the 2nd quarter. Headlands Technologies LLC now owns 2,483 shares of the bank’s stock valued at $142,000 after buying an additional 1,797 shares in the last quarter. Beverly Hills Private Wealth LLC increased its position in shares of Banco Macro by 6.2% during the second quarter. Beverly Hills Private Wealth LLC now owns 5,505 shares of the bank’s stock valued at $316,000 after buying an additional 323 shares during the period. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Banco Macro in the second quarter worth about $362,000.

Banco Macro Company Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.