Short Interest in Banco Macro SA ADR (NYSE:BMA) Decreases By 12.6%

Banco Macro SA ADR (NYSE:BMA) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 691,700 shares, a decrease of 12.6% from the September 30th total of 791,200 shares. Based on an average daily volume of 772,000 shares, the short-interest ratio is currently 0.9 days. Currently, 1.1% of the shares of the stock are sold short.

Shares of NYSE:BMA traded up $0.49 during mid-day trading on Friday, hitting $23.24. The stock had a trading volume of 382,162 shares, compared to its average volume of 411,805. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.13. The company has a market cap of $1.52 billion, a PE ratio of 2.07 and a beta of 1.06. Banco Macro has a 12-month low of $21.41 and a 12-month high of $77.31. The company’s 50 day moving average is $25.02 and its 200-day moving average is $44.38.

Several research firms recently commented on BMA. Zacks Investment Research lowered shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Scotiabank raised shares of Banco Macro from an “underperform” rating to a “sector perform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. increased their target price on shares of Banco Macro from $57.00 to $61.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley lowered shares of Banco Macro from an “overweight” rating to an “underweight” rating in a research note on Monday, August 12th. Finally, Bank of America lowered shares of Banco Macro from a “buy” rating to an “underperform” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $62.33.

Several large investors have recently modified their holdings of BMA. Financial Gravity Wealth Inc. boosted its holdings in Banco Macro by 10,250.0% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 414 shares of the bank’s stock valued at $30,000 after purchasing an additional 410 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Banco Macro in the 2nd quarter valued at $36,000. Exane Derivatives boosted its holdings in Banco Macro by 641.0% in the 3rd quarter. Exane Derivatives now owns 1,734 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,500 shares during the period. Marshall Wace LLP bought a new stake in Banco Macro in the 1st quarter valued at $98,000. Finally, KBC Group NV bought a new stake in Banco Macro in the 2nd quarter valued at $135,000. Institutional investors and hedge funds own 26.96% of the company’s stock.

Banco Macro Company Profile

Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail 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 (ATMs), and money transfers.

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