Banco Macro (NYSE:BMA) Shares Up 6% – Time to Buy?

Shares of Banco Macro S.A. (NYSE:BMAGet Free Report) were up 6% on Tuesday . The company traded as high as $114.08 and last traded at $113.45. Approximately 192,612 shares traded hands during trading, a decline of 48% from the average daily volume of 366,956 shares. The stock had previously closed at $107.00.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Morgan Stanley raised 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.

Get Our Latest Stock Analysis on Banco Macro

Banco Macro Stock Down 3.1 %

The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. 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 $7.13 billion, a PE ratio of 9.77 and a beta of 1.68.

Institutional Investors Weigh In On Banco Macro

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Seven Eight Capital LP purchased a new stake in Banco Macro during the 2nd quarter valued at approximately $1,344,000. Marshall Wace LLP raised its stake 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. Duquesne Family Office LLC lifted 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 period. Mackenzie Financial Corp increased its stake in Banco Macro by 32.9% in the 2nd quarter. Mackenzie Financial Corp now owns 10,988 shares of the bank’s stock valued at $630,000 after buying an additional 2,718 shares during the period. Finally, Claro Advisors LLC lifted its stake in shares of Banco Macro by 87.0% in the 3rd quarter. Claro Advisors LLC now owns 10,200 shares of the bank’s stock worth $648,000 after acquiring an additional 4,744 shares during the period.

About Banco Macro

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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.

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