Gemsstock Ltd. Takes Position in Banco Macro S.A. (NYSE:BMA)

Gemsstock Ltd. purchased a new stake in shares of Banco Macro S.A. (NYSE:BMA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 158,625 shares of the bank’s stock, valued at approximately $15,349,000. Banco Macro makes up about 3.1% of Gemsstock Ltd.’s investment portfolio, making the stock its 8th largest position. Gemsstock Ltd. owned 0.25% of Banco Macro as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Banco Macro during the fourth quarter worth about $63,000. GAMMA Investing LLC lifted its stake in Banco Macro by 136.1% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock valued at $76,000 after acquiring an additional 452 shares during the last quarter. Blue Trust Inc. raised its stake in Banco Macro by 171.6% in the 4th quarter. Blue Trust Inc. now owns 1,939 shares of the bank’s stock valued at $188,000 after acquiring an additional 1,225 shares during the period. Burns Matteson Capital Management LLC bought a new stake in shares of Banco Macro during the fourth quarter worth approximately $199,000. Finally, Alliance Wealth Advisors LLC UT acquired a new position in shares of Banco Macro in the fourth quarter valued at about $207,000.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective for the company in a research report on Monday, December 16th.

Banco Macro Stock Performance

NYSE BMA opened at $67.42 on Friday. Banco Macro S.A. has a 52-week low of $42.23 and a 52-week high of $118.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. The company has a 50-day simple moving average of $86.73 and a 200 day simple moving average of $86.41. The company has a market capitalization of $4.31 billion, a PE ratio of 5.91 and a beta of 1.73.

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.