Banco Macro (NYSE:BMA) Stock Price Down 3.8% – Should You Sell?

Banco Macro S.A. (NYSE:BMA)’s share price dropped 3.8% on Friday . The stock traded as low as $106.78 and last traded at $107.33. Approximately 163,268 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 356,636 shares. The stock had previously closed at $111.63.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley upgraded shares of Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective on the stock in a research report on Monday, December 16th. StockNews.com lowered shares of Banco Macro from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

Banco Macro Trading Down 6.0 %

The business has a 50-day moving average of $94.01 and a 200 day moving average of $73.36. The stock has a market cap of $6.71 billion, a PE ratio of 9.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02.

Hedge Funds Weigh In On Banco Macro

A number of institutional investors have recently modified their holdings of BMA. TT International Asset Management LTD grew its stake in Banco Macro by 86.6% in the 4th quarter. TT International Asset Management LTD now owns 1,141,086 shares of the bank’s stock worth $110,411,000 after acquiring an additional 529,610 shares during the period. Duquesne Family Office LLC boosted its holdings in shares of Banco Macro by 30.9% during the second quarter. Duquesne Family Office LLC now owns 273,130 shares of the bank’s stock worth $15,659,000 after purchasing an additional 64,400 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Banco Macro by 72.3% during the second quarter. Marshall Wace LLP now owns 165,558 shares of the bank’s stock worth $9,491,000 after purchasing an additional 69,494 shares during the last quarter. Dorsey Wright & Associates grew its position in shares of Banco Macro by 13.1% in the third quarter. Dorsey Wright & Associates now owns 75,100 shares of the bank’s stock valued at $4,769,000 after purchasing an additional 8,679 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Banco Macro by 351.0% in the third quarter. BNP Paribas Financial Markets now owns 51,327 shares of the bank’s stock valued at $3,259,000 after purchasing an additional 39,947 shares during the last quarter.

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.