Discovery Capital Management LLC CT Sells 245,201 Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Discovery Capital Management LLC CT trimmed its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 16.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,264,678 shares of the bank’s stock after selling 245,201 shares during the quarter. Grupo Financiero Galicia comprises about 5.5% of Discovery Capital Management LLC CT’s investment portfolio, making the stock its 2nd largest holding. Discovery Capital Management LLC CT’s holdings in Grupo Financiero Galicia were worth $78,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its stake in Grupo Financiero Galicia by 5.4% during the 4th quarter. Headlands Technologies LLC now owns 28,520 shares of the bank’s stock worth $1,777,000 after buying an additional 1,456 shares during the last quarter. OLD Mission Capital LLC acquired a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at $320,000. Franklin Resources Inc. purchased a new stake in Grupo Financiero Galicia in the 4th quarter valued at $5,804,000. Edmond DE Rothschild Holding S.A. boosted its stake in Grupo Financiero Galicia by 22.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 21,670 shares of the bank’s stock worth $1,350,000 after purchasing an additional 4,010 shares during the period. Finally, Axiom Investors LLC DE grew its position in Grupo Financiero Galicia by 1,723.9% during the 4th quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank’s stock worth $94,786,000 after purchasing an additional 1,437,570 shares during the last quarter.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $54.47 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 8.02 and a beta of 1.85. The firm’s fifty day moving average price is $60.32 and its 200 day moving average price is $57.53. Grupo Financiero Galicia S.A. has a 1-year low of $23.53 and a 1-year high of $74.00.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 target price for the company in a research note on Monday, December 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.00.

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.