Short Interest in Banco Macro S.A. (NYSE:BMA) Grows By 50.4%

Banco Macro S.A. (NYSE:BMAGet Rating) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 552,400 shares, an increase of 50.4% from the March 15th total of 367,200 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average trading volume of 260,000 shares, the days-to-cover ratio is presently 2.1 days.

BMA has been the subject of several analyst reports. JPMorgan Chase & Co. lowered Banco Macro from a “neutral” rating to an “underweight” rating in a research note on Monday, January 31st. upgraded Banco Macro from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. Finally, Zacks Investment Research lowered Banco Macro from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.13.

Several hedge funds have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in Banco Macro during the 1st quarter worth $98,000. Morgan Stanley grew its stake in shares of Banco Macro by 117.2% in the first quarter. Morgan Stanley now owns 21,648 shares of the bank’s stock valued at $289,000 after buying an additional 11,679 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new stake in shares of Banco Macro during the second quarter valued at approximately $787,000. JGP Global Gestao de Recursos Ltda. purchased a new stake in Banco Macro during the 3rd quarter worth $561,000. Finally, BlackRock Inc. lifted its stake in shares of Banco Macro by 6.4% in the third quarter. BlackRock Inc. now owns 893,948 shares of the bank’s stock worth $15,189,000 after acquiring an additional 53,470 shares in the last quarter. 7.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE BMA traded up $0.43 during trading on Friday, hitting $17.08. 114,346 shares of the company traded hands, compared to its average volume of 225,435. Banco Macro has a 1 year low of $12.06 and a 1 year high of $21.20. The firm has a market capitalization of $1.09 billion, a P/E ratio of 4.89 and a beta of 1.31. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $15.67 and a 200-day moving average price of $15.32.

Banco Macro (NYSE:BMAGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The bank reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.83. Banco Macro had a return on equity of 11.46% and a net margin of 9.51%. The company had revenue of $462.34 million for the quarter, compared to the consensus estimate of $303.58 million. Research analysts predict that Banco Macro will post 3.31 EPS for the current fiscal year.

Banco Macro Company Profile (Get Rating)

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 (ATMs), and money transfers.

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