Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Short Interest Update

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 3,480,000 shares, a drop of 8.2% from the October 15th total of 3,790,000 shares. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 2.9% of the shares of the company are short sold.

Hedge Funds Weigh In On Grupo Financiero Galicia

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. purchased a new stake in shares of Grupo Financiero Galicia during the second quarter worth about $40,000. Ashton Thomas Private Wealth LLC acquired a new stake in Grupo Financiero Galicia during the 2nd quarter worth approximately $51,000. NorthRock Partners LLC purchased a new position in shares of Grupo Financiero Galicia in the 3rd quarter valued at about $253,000. XTX Topco Ltd acquired a new position in shares of Grupo Financiero Galicia during the third quarter worth $266,000. Finally, Quadrature Capital Ltd purchased a new stake in Grupo Financiero Galicia in the third quarter valued at $278,000.

Wall Street Analyst Weigh In

GGAL has been the subject of several recent analyst reports. Bank of America raised Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $28.00 to $36.00 in a report on Thursday, August 8th. Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Wednesday, September 4th. StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 target price for the company in a research report on Friday, August 30th.

Grupo Financiero Galicia Stock Performance

GGAL stock traded up $2.87 during trading on Monday, hitting $59.16. 1,394,706 shares of the company’s stock traded hands, compared to its average volume of 1,021,842. The business has a fifty day simple moving average of $48.41 and a two-hundred day simple moving average of $38.30. Grupo Financiero Galicia has a 1 year low of $13.06 and a 1 year high of $59.79.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.