Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 975,472 shares, a decline of 35.9% from the January 12th total of 1,521,781 shares. Based on an average trading volume of 378,037 shares, the days-to-cover ratio is presently 2.6 days.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Third Point LLC purchased a new position in Grupo Financiero Galicia in the 3rd quarter worth about $86,330,000. BlackRock Inc. increased its stake in Grupo Financiero Galicia by 13.6% in the 4th quarter. BlackRock Inc. now owns 1,410,612 shares of the bank’s stock worth $92,888,000 after purchasing an additional 168,722 shares in the last quarter. USS Investment Management Ltd increased its stake in Grupo Financiero Galicia by 31.5% in the 3rd quarter. USS Investment Management Ltd now owns 814,070 shares of the bank’s stock worth $41,957,000 after purchasing an additional 195,000 shares in the last quarter. Carmignac Gestion purchased a new position in Grupo Financiero Galicia in the 3rd quarter worth about $41,232,000. Finally, Key Square Capital Management LLC purchased a new position in Grupo Financiero Galicia in the 3rd quarter worth about $28,696,000. 32.13% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. ValuEngine cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. BidaskClub upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Zacks Investment Research cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Saturday, January 20th. Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 27th. Finally, HSBC cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Grupo Financiero Galicia currently has an average rating of “Buy” and an average target price of $87.00.
Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Wednesday, November 29th. The bank reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.08. The company had revenue of $654.76 million during the quarter. sell-side analysts expect that Grupo Financiero Galicia will post 3.47 EPS for the current fiscal year.
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Grupo Financiero Galicia Company Profile
Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).
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