Grupo Financiero Galicia SA (NASDAQ:GGAL) sees a significant drop in short-term interest

Grupo Financiero Galicia S.A. (NASDAQ:GGAL – Get a rating) was the target of a sharp drop in short-term interest in August. As of August 31, there was short interest totaling 1,690,000 shares, a decrease of 20.3% from the total of 2,120,000 shares as of August 15. Based on an average daily volume of 778,000 shares, the short interest ratio is currently 2.2 days.

Grupo Financiero Galicia Share down 0.3%

NASDAQ GGAL shares opened at $8.84 on Friday. The company has a fifty-day moving average price of $7.82 and a 200-day moving average price of $8.67. The company has a quick ratio of 1.12, a current ratio of 1.12 and a leverage ratio of 0.17. Grupo Financiero Galicia has a 1-year minimum of $5.75 and a 1-year maximum of $12.50.

Institutional entries and exits

Several institutional investors and hedge funds have recently changed their holdings in the company. Advisor Group Holdings Inc. acquired a new position in Grupo Financiero Galicia during Q4 worth approximately $110,000. Light Sky Macro LP acquired a new stake in Grupo Financiero Galicia in the 4th quarter at a value of $3,275,000. Schroder Investment Management Group increased its position in Grupo Financiero Galicia by 115.6% in the 4th quarter. Schroder Investment Management Group now owns 426,941 shares of the bank worth $405,000 after buying an additional 228,961 shares last quarter. Autonomy Capital Jersey LP increased its equity stake in Grupo Financiero Galicia by 33.8% during the 4th quarter. Autonomy Capital Jersey LP now owns 431,795 shares of the bank worth $4,098,000 after purchasing an additional 109,195 shares in the last quarter. Finally, Long Focus Capital Management LLC bought a new position in shares of Grupo Financiero Galicia in Q4 worth approximately $3,369,000. 7.29% of the shares are held by institutional investors and hedge funds.

A Wall Street analyst gives his opinion

Separately, Grupo Santander upgraded Grupo Financiero Galicia from a “hold” rating to an “outperform” rating and set a target price of $21.30 for the company in a Monday, June 13 research note.

Company Profile Grupo Financiero Galicia

(Get a rating)

Grupo Financiero Galicia SA, a financial services holding company, provides various financial products and services to individuals and businesses in Argentina. The Company operates through Banks, NaranjaX, Insurance and Other Businesses segments. The Company’s products and services cover savings accounts, checking accounts and checking accounts; personal loans; express loans and mortgages; pawnbroking and credit card loans; credit and debit cards; and online banking.

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