Grupo Financiero Galicia S.A. (NASDAQ:GGAL – Get a rating) was the target of a significant drop in short interest in June. As of June 15, there was short interest totaling 965,200 shares, down 36.9% from the May 31 total of 1,530,000 shares. Based on an average daily volume of 552,800 shares, the day-to-cover ratio is currently 1.7 days.
The NASDAQ GGAL traded down $0.25 on Friday, hitting $7.16. The stock had a trading volume of 371,370 shares, compared to an average volume of 581,396. Grupo Financiero Galicia has a 52-week low of $6.77 and a 52-week high of $12.75. The company has a debt ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day moving average of $8.52 and a 200-day moving average of $9.32.
The company also recently announced an annual dividend, which was paid on Friday, May 13. Shareholders of record on Friday, January 1 received a dividend of $0.3602. The ex-dividend date was Friday, May 13. This is a boost from Grupo Financiero Galicia’s previous annual dividend of $0.30. This represents a return of 3.5%.
A number of hedge funds and other institutional investors have recently bought and sold shares of GGAL. Veracity Capital LLC acquired a new stake in Grupo Financiero Galicia in the 4th quarter for a value of approximately $96,000. Mercer Global Advisors Inc. ADV purchased a new equity stake in Grupo Financiero Galicia during Q4 for $99,000. Advisor Group Holdings Inc. purchased a new equity stake in Grupo Financiero Galicia during Q4 for $110,000. Moody Aldrich Partners LLC purchased a new equity stake in Grupo Financiero Galicia during Q4 for $117,000. Finally, Great West Life Assurance Co. Can increased its position in Grupo Financiero Galicia shares by 135.6% during the first quarter. Great West Life Assurance Co. Can now owns 10,730 shares of the bank valued at $123,000 after buying an additional 6,176 shares last quarter. Institutional investors and hedge funds own 8.33% of the company’s shares.
Several equity research analysts have recently commented on the GGAL stock. StockNews.com downgraded Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a Thursday, May 12, report. Grupo Santander upgraded Grupo Financiero Galicia from a “hold” rating to an “outperform” rating and set a price target of $21.30 for the company in a Monday, June 13 report.
About Grupo Financiero Galicia (Get a rating)
Grupo Financiero Galicia SA, a financial services holding company, provides various financial products and services to individuals and businesses in Argentina. The Company operates through Banks, NaranjaX, Insurance and Other Businesses segments. The Company’s products and services cover savings accounts, checking accounts and checking accounts; personal loans; express loans and mortgages; pawnbroking and credit card loans; credit and debit cards; and online banking.
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