Banco Macro (NYSE:BMA) Shares Gap Down – Should You Sell?

Banco Macro S.A. (NYSE:BMA) gapped down prior to trading on Tuesday . The stock had previously closed at $92.17, but opened at $88.84. Banco Macro shares last traded at $90.81, with a volume of 101,253 shares traded.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price on the stock in a research note on Monday, December 16th.

Banco Macro Stock Performance

The business’s 50 day simple moving average is $101.22 and its two-hundred day simple moving average is $80.98. The firm has a market capitalization of $6.00 billion, a PE ratio of 8.23 and a beta of 1.67. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13.

Banco Macro (NYSE:BMA) last issued its quarterly earnings data on Wednesday, November 27th. The bank reported $1.51 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.70). Banco Macro had a return on equity of 26.55% and a net margin of 15.12%. Research analysts expect that Banco Macro S.A. will post 7.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco Macro

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in Banco Macro by 118.3% during the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after buying an additional 387 shares during the period. Tower Research Capital LLC TRC raised its position in Banco Macro by 1,829.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 598 shares of the bank’s stock worth $58,000 after acquiring an additional 567 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Banco Macro during the 4th quarter worth $63,000. GAMMA Investing LLC grew its position in shares of Banco Macro by 136.1% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock valued at $76,000 after acquiring an additional 452 shares during the period. Finally, Burns Matteson Capital Management LLC purchased a new stake in shares of Banco Macro in the 4th quarter worth $199,000.

About Banco Macro

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.