Grupo Financiero Galicia (NASDAQ:GGAL) Shares Down 3.9% – Here’s Why

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares traded down 3.9% during trading on Friday . The company traded as low as $67.01 and last traded at $67.18. 575,330 shares were traded during mid-day trading, a decline of 50% from the average session volume of 1,147,202 shares. The stock had previously closed at $69.90.

Analyst Ratings Changes

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

Grupo Financiero Galicia Trading Down 3.8 %

The company has a fifty day moving average of $61.95 and a 200-day moving average of $47.07. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10.

Institutional Trading of Grupo Financiero Galicia

Several hedge funds have recently made changes to their positions in GGAL. Turim 21 Investimentos Ltda. acquired a new position in shares of Grupo Financiero Galicia in the second quarter valued at approximately $453,000. Duquesne Family Office LLC grew its stake in shares of Grupo Financiero Galicia by 47.8% in the second quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock worth $14,539,000 after acquiring an additional 153,900 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Grupo Financiero Galicia during the second quarter worth $582,000. Truist Financial Corp acquired a new stake in shares of Grupo Financiero Galicia in the second quarter valued at $273,000. Finally, Bank of New Hampshire purchased a new position in Grupo Financiero Galicia in the third quarter valued at $631,000.

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.