Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price Down 6.8% – Here’s Why

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s stock price was down 6.8% during trading on Tuesday . The stock traded as low as $54.60 and last traded at $54.36. Approximately 664,201 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,039,527 shares. The stock had previously closed at $58.30.

Analyst Ratings Changes

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

Grupo Financiero Galicia Stock Down 6.9 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 7.95 and a beta of 1.85. The business’s 50 day moving average price is $62.96 and its 200 day moving average price is $56.45.

Institutional Trading of Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GGAL. Townsquare Capital LLC boosted its position in Grupo Financiero Galicia by 1.2% during the fourth quarter. Townsquare Capital LLC now owns 22,975 shares of the bank’s stock worth $1,432,000 after purchasing an additional 283 shares in the last quarter. R Squared Ltd acquired a new position in shares of Grupo Financiero Galicia during the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at approximately $34,000. Commonwealth Equity Services LLC grew its stake in Grupo Financiero Galicia by 11.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,102 shares of the bank’s stock valued at $380,000 after acquiring an additional 618 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Grupo Financiero Galicia by 41.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,134 shares of the bank’s stock worth $136,000 after acquiring an additional 624 shares in the last quarter.

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.