Short Interest in Banco Macro S.A. (NYSE:BMA) Drops By 8.7%

Banco Macro S.A. (NYSE:BMA) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 572,600 shares, a drop of 8.7% from the November 15th total of 627,000 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 275,400 shares, the short-interest ratio is currently 2.1 days.

Banco Macro Price Performance

Shares of BMA opened at $92.98 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.02. Banco Macro has a 52-week low of $24.41 and a 52-week high of $93.65. The business’s 50 day moving average price is $79.26 and its two-hundred day moving average price is $65.90. The firm has a market cap of $5.95 billion, a PE ratio of 8.15 and a beta of 1.75.

Wall Street Analysts Forecast Growth

BMA has been the subject of a number of recent research reports. StockNews.com downgraded shares of Banco Macro from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised shares of Banco Macro from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $78.00 in a research report on Friday, August 30th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC raised its position in shares of Banco Macro by 139.3% in the 3rd quarter. Tidal Investments LLC now owns 14,904 shares of the bank’s stock worth $946,000 after purchasing an additional 8,675 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Banco Macro in the 3rd quarter worth $644,000. TT International Asset Management LTD grew its stake in shares of Banco Macro by 21.9% during the 3rd quarter. TT International Asset Management LTD now owns 611,476 shares of the bank’s stock valued at $38,828,000 after acquiring an additional 109,793 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Banco Macro by 300.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 15,333 shares of the bank’s stock worth $974,000 after purchasing an additional 11,507 shares in the last quarter. Finally, Dorsey Wright & Associates increased its stake in Banco Macro by 13.1% in the 3rd quarter. Dorsey Wright & Associates now owns 75,100 shares of the bank’s stock worth $4,769,000 after buying an additional 8,679 shares in the last quarter.

About Banco Macro

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.