GAMMA Investing LLC Increases Stock Holdings in Banco Macro S.A. (NYSE:BMA)

GAMMA Investing LLC raised its position in shares of Banco Macro S.A. (NYSE:BMA) by 9,810.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,700 shares of the bank’s stock after acquiring an additional 76,916 shares during the period. GAMMA Investing LLC owned approximately 0.12% of Banco Macro worth $5,867,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC acquired a new position in shares of Banco Macro during the fourth quarter worth about $920,000. Vident Advisory LLC bought a new stake in Banco Macro in the fourth quarter valued at about $258,000. PointState Capital LP increased its holdings in Banco Macro by 25.1% in the fourth quarter. PointState Capital LP now owns 339,020 shares of the bank’s stock valued at $32,804,000 after buying an additional 68,096 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Banco Macro by 84.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank’s stock valued at $52,161,000 after buying an additional 247,070 shares during the last quarter. Finally, Duquesne Family Office LLC increased its holdings in Banco Macro by 14.5% in the fourth quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank’s stock valued at $46,970,000 after buying an additional 61,300 shares during the last quarter.

Banco Macro Price Performance

Shares of NYSE:BMA opened at $75.56 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 6.62 and a beta of 1.68. Banco Macro S.A. has a 1 year low of $42.23 and a 1 year high of $118.42. The business has a fifty day simple moving average of $85.45 and a 200 day simple moving average of $90.34.

Banco Macro (NYSE:BMA) last released its quarterly earnings results on Wednesday, May 28th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($1.11). Banco Macro had a net margin of 15.12% and a return on equity of 26.55%. The firm had revenue of $759.36 million for the quarter, compared to the consensus estimate of $837.49 billion. As a group, sell-side analysts predict that Banco Macro S.A. will post 7.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Itau BBA Securities assumed coverage on Banco Macro in a report on Tuesday, May 20th. They set a “market perform” rating and a $85.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Banco Macro from $78.00 to $89.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Banco Macro has a consensus rating of “Hold” and a consensus price target of $62.13.

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.