Short Interest in Banco Macro S.A. (NYSE:BMA) Grows By 81.6%

Banco Macro S.A. (NYSE:BMA) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 454,700 shares, a growth of 81.6% from the February 28th total of 250,400 shares. Based on an average daily volume of 329,400 shares, the short-interest ratio is currently 1.4 days. Approximately 0.7% of the shares of the stock are sold short.

Analyst Ratings Changes

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.

Hedge Funds Weigh In On Banco Macro

Several hedge funds have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC purchased a new position in shares of Banco Macro during the 4th quarter worth approximately $920,000. Vident Advisory LLC acquired a new position in shares of Banco Macro in the fourth quarter worth $258,000. PointState Capital LP lifted its position in shares of Banco Macro by 25.1% in the fourth quarter. PointState Capital LP now owns 339,020 shares of the bank’s stock valued at $32,804,000 after acquiring an additional 68,096 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Banco Macro by 84.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank’s stock valued at $52,161,000 after acquiring an additional 247,070 shares during the last quarter. Finally, Duquesne Family Office LLC increased its position in Banco Macro by 14.5% during the 4th quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank’s stock worth $46,970,000 after purchasing an additional 61,300 shares in the last quarter.

Banco Macro Price Performance

NYSE BMA traded down $1.68 during mid-day trading on Friday, hitting $78.50. The stock had a trading volume of 200,183 shares, compared to its average volume of 333,531. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 6.88 and a beta of 1.73. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. Banco Macro has a 52-week low of $42.23 and a 52-week high of $118.42. The company has a 50 day simple moving average of $89.96 and a 200 day simple moving average of $85.98.

About Banco Macro

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.