Banco Macro S.A. (NYSE:BMA) Short Interest Down 6.3% in December

Banco Macro S.A. (NYSE:BMA) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 536,300 shares, a drop of 6.3% from the November 30th total of 572,600 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 292,000 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On Banco Macro

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC lifted its holdings in Banco Macro by 139.3% in the 3rd quarter. Tidal Investments LLC now owns 14,904 shares of the bank’s stock valued at $946,000 after purchasing an additional 8,675 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Banco Macro during the third quarter valued at approximately $644,000. TT International Asset Management LTD boosted its position in Banco Macro by 21.9% during the third quarter. TT International Asset Management LTD now owns 611,476 shares of the bank’s stock worth $38,828,000 after acquiring an additional 109,793 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in Banco Macro by 300.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 15,333 shares of the bank’s stock worth $974,000 after acquiring an additional 11,507 shares during the period. Finally, Dorsey Wright & Associates increased its stake in shares of Banco Macro by 13.1% during the 3rd quarter. Dorsey Wright & Associates now owns 75,100 shares of the bank’s stock valued at $4,769,000 after acquiring an additional 8,679 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BMA. Morgan Stanley upgraded Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price target on the stock in a research note on Monday, December 16th. StockNews.com cut Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

Banco Macro Price Performance

Shares of BMA traded up $0.93 during mid-day trading on Tuesday, reaching $98.25. 12,027 shares of the company’s stock were exchanged, compared to its average volume of 342,905. Banco Macro has a 52-week low of $24.41 and a 52-week high of $109.36. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $85.46 and a two-hundred day simple moving average of $68.94. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 8.61 and a beta of 1.75.

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.