Banco Macro (NYSE:BMA) Stock Price Down 3.8% – Here’s What Happened

Banco Macro S.A. (NYSE:BMA)’s share price was down 3.8% during mid-day trading on Friday . The company traded as low as $106.78 and last traded at $107.33. Approximately 163,268 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 356,636 shares. The stock had previously closed at $111.63.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley upgraded shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective on the stock in a research report on Monday, December 16th. StockNews.com downgraded Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

Banco Macro Trading Down 6.3 %

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 firm’s fifty day moving average is $94.52 and its two-hundred day moving average is $73.86. The firm has a market cap of $6.69 billion, a P/E ratio of 9.17 and a beta of 1.68.

Hedge Funds Weigh In On Banco Macro

Hedge funds and other institutional investors have recently modified their holdings of the stock. TT International Asset Management LTD lifted its holdings in Banco Macro by 86.6% in the fourth quarter. TT International Asset Management LTD now owns 1,141,086 shares of the bank’s stock worth $110,411,000 after buying an additional 529,610 shares during the period. Marshall Wace LLP raised its position in shares of Banco Macro by 72.3% in the 2nd quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock worth $9,491,000 after acquiring an additional 69,494 shares in the last quarter. Duquesne Family Office LLC lifted its stake in shares of Banco Macro by 30.9% in the 2nd quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock valued at $15,659,000 after purchasing an additional 64,400 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Banco Macro by 351.0% during the third quarter. BNP Paribas Financial Markets now owns 51,327 shares of the bank’s stock valued at $3,259,000 after purchasing an additional 39,947 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Banco Macro in the third quarter worth $971,000.

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.