Banco Macro S.A. (NYSE:BMA) Stake Raised by Tidal Investments LLC

Tidal Investments LLC grew its holdings in shares of Banco Macro S.A. (NYSE:BMA) by 139.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,904 shares of the bank’s stock after purchasing an additional 8,675 shares during the period. Tidal Investments LLC’s holdings in Banco Macro were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BMA. Atlas Capital Advisors LLC acquired a new position in Banco Macro in the second quarter worth approximately $362,000. Candriam S.C.A. acquired a new position in shares of Banco Macro in the 2nd quarter worth $43,236,000. Acadian Asset Management LLC acquired a new stake in shares of Banco Macro during the second quarter worth $1,466,000. LSV Asset Management lifted its holdings in shares of Banco Macro by 23.1% during the second quarter. LSV Asset Management now owns 78,804 shares of the bank’s stock valued at $4,518,000 after purchasing an additional 14,804 shares during the last quarter. Finally, Ping Capital Management Inc. purchased a new stake in shares of Banco Macro during the second quarter valued at $12,326,000.

Analysts Set New Price Targets

Several analysts have issued reports on BMA shares. Morgan Stanley upgraded Banco Macro from an “underweight” rating to an “overweight” rating and set a $12.50 price objective on the stock in a report on Monday. StockNews.com lowered shares of Banco Macro from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $78.00 in a research note on Friday, August 30th.

Banco Macro Stock Down 2.3 %

Shares of Banco Macro stock opened at $95.24 on Friday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 8.35 and a beta of 1.75. The stock has a 50-day simple moving average of $81.81 and a 200-day simple moving average of $66.91. Banco Macro S.A. has a 52-week low of $24.41 and a 52-week high of $109.36. 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 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.