Ping Capital Management Inc. Decreases Position in Banco Macro S.A. (NYSE:BMA)

Ping Capital Management Inc. reduced its holdings in shares of Banco Macro S.A. (NYSE:BMA) by 23.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,704 shares of the bank’s stock after selling 57,395 shares during the quarter. Banco Macro accounts for about 4.4% of Ping Capital Management Inc.’s holdings, making the stock its 6th biggest holding. Ping Capital Management Inc.’s holdings in Banco Macro were worth $18,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMA. Blue Trust Inc. grew its holdings in Banco Macro by 118.3% during the 3rd quarter. Blue Trust Inc. now owns 714 shares of the bank’s stock worth $45,000 after acquiring an additional 387 shares during the period. GAMMA Investing LLC increased its holdings in Banco Macro by 136.1% in the fourth 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. Alliance Wealth Advisors LLC UT acquired a new position in Banco Macro in the fourth quarter valued at approximately $207,000. NorthRock Partners LLC bought a new position in shares of Banco Macro during the 3rd quarter worth approximately $381,000. Finally, Sigma Planning Corp grew its position 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 worth $398,000 after buying an additional 395 shares during the period.

Banco Macro Stock Up 0.5 %

Shares of NYSE:BMA opened at $96.33 on Wednesday. Banco Macro S.A. has a 1 year low of $28.68 and a 1 year high of $118.42. The company has a market capitalization of $6.16 billion, a PE ratio of 8.44 and a beta of 1.67. The business has a fifty day moving average price of $99.32 and a two-hundred day moving average price of $77.72. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79.

Banco Macro (NYSE:BMA) last posted its earnings results on Wednesday, November 27th. The bank reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.70). Banco Macro had a return on equity of 26.55% and a net margin of 15.12%. Analysts forecast that Banco Macro S.A. will post 7.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded shares of 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.

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.