Banco Macro S.A. (NYSE:BMA) Sees Significant Growth in Short Interest

Banco Macro S.A. (NYSE:BMA) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 250,400 shares, an increase of 36.7% from the February 13th total of 183,200 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 351,600 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

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

Banco Macro Trading Up 3.2 %

BMA stock traded up $2.64 during midday trading on Friday, hitting $85.26. The stock had a trading volume of 193,191 shares, compared to its average volume of 339,347. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The firm has a market cap of $5.45 billion, a P/E ratio of 7.47 and a beta of 1.73. The business has a fifty day moving average price of $96.14 and a two-hundred day moving average price of $84.66. Banco Macro has a 1-year low of $42.23 and a 1-year high of $118.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TT International Asset Management LTD increased 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 purchasing an additional 529,610 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Banco Macro by 136.1% in the 4th quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank’s stock valued at $55,188,000 after acquiring an additional 328,800 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Banco Macro by 84.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank’s stock valued at $52,161,000 after acquiring an additional 247,070 shares during the period. Cape Ann Asset Management Ltd acquired a new stake in Banco Macro in the fourth quarter worth $20,203,000. Finally, Gemsstock Ltd. acquired a new stake in Banco Macro in the fourth quarter worth $15,349,000.

Banco Macro Company Profile

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.