Redhawk Wealth Advisors Inc. Takes Position in Banco Macro S.A. (NYSE:BMA)

Redhawk Wealth Advisors Inc. acquired a new position in shares of Banco Macro S.A. (NYSE:BMA) in the fourth quarter, Holdings Channel reports. The firm acquired 7,596 shares of the bank’s stock, valued at approximately $735,000.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Banco Macro by 118.3% in the third quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock valued at $45,000 after acquiring an additional 387 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of Banco Macro by 6.7% during the 3rd quarter. Sigma Planning Corp now owns 6,275 shares of the bank’s stock valued at $398,000 after purchasing an additional 395 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Banco Macro by 136.1% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the bank’s stock worth $76,000 after purchasing an additional 452 shares in the last quarter. Diversify Wealth Management LLC grew its stake in Banco Macro by 4.3% during the 3rd quarter. Diversify Wealth Management LLC now owns 16,657 shares of the bank’s stock worth $1,058,000 after buying an additional 693 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Banco Macro by 32.9% during 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BMA. Morgan Stanley raised Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price target for the company in a report on Monday, December 16th. StockNews.com downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

Banco Macro Stock Performance

Shares of BMA opened at $111.51 on Friday. 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 stock has a 50-day moving average of $94.01 and a two-hundred day moving average of $73.36. The stock has a market cap of $7.13 billion, a P/E ratio of 9.77 and a beta of 1.68. Banco Macro S.A. has a one year low of $25.14 and a one year high of $118.42.

Banco Macro 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.