Zacks Investment Research Lowers Grupo Financiero Galicia S.A. (NASDAQ:GGAL) to Hold

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, August 1st.

According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “

Other equities research analysts also recently issued research reports about the stock. Citigroup Inc. downgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a research note on Wednesday, June 7th. BidaskClub upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st.

Grupo Financiero Galicia (NASDAQ GGAL) traded up 1.85% on Tuesday, hitting $42.44. 289,522 shares of the stock were exchanged. The stock has a market cap of $5.52 billion, a PE ratio of 14.52 and a beta of 1.31. The company’s 50 day moving average is $39.62 and its 200 day moving average is $39.00. Grupo Financiero Galicia has a 1-year low of $23.23 and a 1-year high of $47.34.

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A number of hedge funds and other institutional investors have recently modified their holdings of GGAL. Blockhouse Capital Management LP bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at about $3,927,000. Private Advisory Group LLC bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at about $266,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at about $5,582,000. Alpine Global Management LLC increased its position in shares of Grupo Financiero Galicia by 34.7% in the second quarter. Alpine Global Management LLC now owns 14,879 shares of the bank’s stock valued at $634,000 after buying an additional 3,833 shares during the period. Finally, PointState Capital LP increased its position in shares of Grupo Financiero Galicia by 10.2% in the second quarter. PointState Capital LP now owns 2,428,391 shares of the bank’s stock valued at $103,547,000 after buying an additional 225,500 shares during the period. Institutional investors and hedge funds own 30.55% of the company’s stock.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).

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