Macro Bank Inc. (NYSE:BMA) Sees Significant Decrease in Short Interest

Macro Bank Inc. (NYSE:BMA) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 290,942 shares, a drop of 50.2% from the June 15th total of 584,685 shares. Based on an average trading volume of 422,362 shares, the days-to-cover ratio is presently 0.7 days.

Shares of Macro Bank (NYSE:BMA) traded up 2.95% during midday trading on Friday, reaching $97.51. 82,591 shares of the company’s stock traded hands. The company has a market capitalization of $6.42 billion, a PE ratio of 16.01 and a beta of 1.39. Macro Bank has a 52 week low of $61.12 and a 52 week high of $97.99. The stock’s 50 day moving average is $89.52 and its 200-day moving average is $86.46.

A number of hedge funds have recently bought and sold shares of BMA. Carmignac Gestion raised its stake in Macro Bank by 540.5% in the second quarter. Carmignac Gestion now owns 1,746,620 shares of the bank’s stock valued at $161,021,000 after buying an additional 1,473,904 shares during the period. PointState Capital LP raised its stake in Macro Bank by 179.4% in the second quarter. PointState Capital LP now owns 1,717,800 shares of the bank’s stock valued at $158,364,000 after buying an additional 1,102,900 shares during the period. Third Point LLC purchased a new stake in Macro Bank during the second quarter valued at $82,971,000. Bamco Inc. NY purchased a new stake in Macro Bank during the second quarter valued at $35,538,000. Finally, Alliancebernstein L.P. raised its stake in Macro Bank by 127.0% in the second quarter. Alliancebernstein L.P. now owns 522,292 shares of the bank’s stock valued at $48,150,000 after buying an additional 292,249 shares during the period. 24.18% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Macro Bank from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. ValuEngine raised shares of Macro Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Finally, Credit Suisse Group raised shares of Macro Bank from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 13th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $92.75.

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About Macro Bank

Banco Macro SA is an Argnetina-based financial institution (the Bank) that offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. In addition, the Bank performs certain transactions through its subsidiaries, including mainly Banco del Tucuman, Macro Bank Ltd, Macro Securities SA, Macro Fiducia SA and Macro Fondos SGFCI SA.

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