Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 52-Week High – Here’s Why

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $70.99 and last traded at $68.98, with a volume of 127989 shares. The stock had previously closed at $68.80.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target on the stock in a research report on Monday, December 16th. StockNews.com downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Grupo Financiero Galicia presently has an average rating of “Moderate Buy” and an average target price of $59.00.

Grupo Financiero Galicia Stock Down 1.7 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. The stock has a market cap of $9.97 billion, a P/E ratio of 9.27 and a beta of 1.87. The company has a 50-day simple moving average of $58.43 and a two-hundred day simple moving average of $44.43.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GGAL. Jennison Associates LLC bought a new position in Grupo Financiero Galicia during the 3rd quarter valued at approximately $51,416,000. Ping Capital Management Inc. purchased a new stake in shares of Grupo Financiero Galicia during the second quarter valued at approximately $23,611,000. BNP Paribas Financial Markets raised its holdings in Grupo Financiero Galicia by 103.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 625,003 shares of the bank’s stock worth $26,306,000 after acquiring an additional 318,326 shares during the last quarter. William Blair Investment Management LLC bought a new position in Grupo Financiero Galicia in the 2nd quarter valued at approximately $8,573,000. Finally, Duquesne Family Office LLC boosted its stake in Grupo Financiero Galicia by 47.8% during the 2nd quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock valued at $14,539,000 after purchasing an additional 153,900 shares during the last quarter.

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.