Gemsstock Ltd. Purchases New Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Gemsstock Ltd. acquired a new position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 227,307 shares of the bank’s stock, valued at approximately $14,166,000. Grupo Financiero Galicia makes up about 2.8% of Gemsstock Ltd.’s holdings, making the stock its 10th biggest position.

Several other hedge funds have also recently made changes to their positions in GGAL. Axiom Investors LLC DE lifted its stake in Grupo Financiero Galicia by 1,723.9% in the fourth quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank’s stock worth $94,786,000 after acquiring an additional 1,437,570 shares during the period. Jennison Associates LLC lifted its position in shares of Grupo Financiero Galicia by 2.2% in the 4th quarter. Jennison Associates LLC now owns 1,248,936 shares of the bank’s stock worth $77,834,000 after purchasing an additional 27,353 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Grupo Financiero Galicia by 3.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,050,575 shares of the bank’s stock worth $65,472,000 after purchasing an additional 30,980 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Grupo Financiero Galicia by 778.9% during the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank’s stock valued at $56,152,000 after purchasing an additional 798,542 shares in the last quarter. Finally, Fourth Sail Capital LP purchased a new position in shares of Grupo Financiero Galicia during the fourth quarter valued at about $27,369,000.

Grupo Financiero Galicia Stock Down 10.0 %

Shares of Grupo Financiero Galicia stock opened at $48.24 on Friday. Grupo Financiero Galicia S.A. has a 1 year low of $23.53 and a 1 year high of $74.00. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 7.10 and a beta of 1.60. The company has a 50-day moving average of $59.01 and a 200 day moving average of $57.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11.

Analysts Set New Price Targets

Separately, Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price objective on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.