Grupo Financiero Galicia (NASDAQ:GGAL) Shares Gap Down – Here’s What Happened

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) gapped down prior to trading on Tuesday . The stock had previously closed at $58.80, but opened at $56.09. Grupo Financiero Galicia shares last traded at $58.39, with a volume of 463,823 shares.

Analyst Ratings Changes

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

Grupo Financiero Galicia Price Performance

The firm’s fifty day moving average price is $65.66 and its two-hundred day moving average price is $53.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Grupo Financiero Galicia

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its position in Grupo Financiero Galicia by 9,082.3% in the fourth quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank’s stock worth $721,935,000 after buying an additional 11,366,972 shares in the last quarter. Axiom Investors LLC DE increased its holdings in Grupo Financiero Galicia by 1,723.9% in the 4th 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 in the last quarter. INCA Investments LLC increased its holdings in Grupo Financiero Galicia by 1.8% in the 3rd quarter. INCA Investments LLC now owns 1,373,576 shares of the bank’s stock worth $57,814,000 after acquiring an additional 24,354 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Grupo Financiero Galicia during the fourth quarter valued at approximately $78,711,000. Finally, Jennison Associates LLC lifted its holdings in Grupo Financiero Galicia by 2.2% during the fourth quarter. Jennison Associates LLC now owns 1,248,936 shares of the bank’s stock valued at $77,834,000 after purchasing an additional 27,353 shares in 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.