Banco Macro (NYSE:BMA) Shares Gap Down – What’s Next?

Banco Macro S.A. (NYSE:BMA)’s share price gapped down before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 target price for the company in a research report on Monday, December 16th.

Banco Macro Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. The business’s 50-day moving average is $101.22 and its 200-day moving average is $80.98. The company has a market capitalization of $6.00 billion, a PE ratio of 8.23 and a beta of 1.67.

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

Hedge Funds Weigh In On Banco Macro

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Banco Macro by 118.3% in the 3rd quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after purchasing an additional 387 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of 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 buying an additional 567 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Banco Macro in the fourth quarter worth approximately $63,000. GAMMA Investing LLC grew its holdings in shares of Banco Macro by 136.1% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock valued at $76,000 after buying an additional 452 shares during the last quarter. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of Banco Macro during the fourth quarter valued at approximately $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.