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

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GGAL. Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 target price on the stock in a research note on Monday, December 16th. StockNews.com downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research 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. Based on data from MarketBeat.com, Grupo Financiero Galicia currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Grupo Financiero Galicia Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average price of $65.66 and a 200-day moving average price of $53.01.

Hedge Funds Weigh In On Grupo Financiero Galicia

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Grupo Financiero Galicia in the 4th quarter worth about $27,000. CIBC Private Wealth Group LLC purchased a new stake in Grupo Financiero Galicia in the fourth quarter worth about $34,000. Compass Group LLC bought a new position in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $67,000. GeoWealth Management LLC bought a new position in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $71,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Grupo Financiero Galicia by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,134 shares of the bank’s stock valued at $136,000 after purchasing an additional 624 shares during the last quarter.

Grupo Financiero Galicia Company Profile

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.