Dorsey Wright & Associates Sells 16,642 Shares of Banco Macro S.A. (NYSE:BMA)

Dorsey Wright & Associates cut its holdings in Banco Macro S.A. (NYSE:BMA) by 22.2% during the 4th quarter, HoldingsChannel reports. The fund owned 58,458 shares of the bank’s stock after selling 16,642 shares during the quarter. Banco Macro accounts for approximately 1.3% of Dorsey Wright & Associates’ holdings, making the stock its 19th largest position. Dorsey Wright & Associates’ holdings in Banco Macro were worth $5,656,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Legal Advantage Investments Inc. boosted its holdings in Banco Macro by 4.0% in the 4th quarter. Legal Advantage Investments Inc. now owns 7,800 shares of the bank’s stock valued at $755,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC raised its position in shares of 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 buying an additional 452 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Banco Macro in the fourth quarter valued at approximately $63,000. Blue Trust Inc. grew its position in Banco Macro by 171.6% during the fourth quarter. Blue Trust Inc. now owns 1,939 shares of the bank’s stock worth $188,000 after buying an additional 1,225 shares in the last quarter. Finally, Burns Matteson Capital Management LLC acquired a new stake in Banco Macro during the fourth quarter worth approximately $199,000.

Analyst Ratings Changes

Separately, 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 report on Monday, December 16th.

Banco Macro Price Performance

Shares of NYSE:BMA opened at $78.50 on Friday. The firm has a 50 day moving average of $89.96 and a 200-day moving average of $86.15. Banco Macro S.A. has a 12 month low of $42.23 and a 12 month high of $118.42. 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 stock has a market capitalization of $5.02 billion, a PE ratio of 6.88 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.