Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Sees Large Increase in Short Interest

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 3,820,000 shares, a growth of 26.9% from the March 31st total of 3,010,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 3.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a report on Wednesday, April 17th.

Grupo Financiero Galicia Stock Performance

Shares of GGAL traded up $1.17 during mid-day trading on Tuesday, hitting $32.43. 2,044,385 shares of the company’s stock were exchanged, compared to its average volume of 1,023,657. The firm has a fifty day moving average of $25.48 and a two-hundred day moving average of $19.41. Grupo Financiero Galicia has a twelve month low of $10.57 and a twelve month high of $33.59.

Institutional Trading of Grupo Financiero Galicia

Institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its stake in Grupo Financiero Galicia by 1.2% in the third quarter. Hsbc Holdings PLC now owns 255,668 shares of the bank’s stock valued at $3,370,000 after acquiring an additional 3,116 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Grupo Financiero Galicia by 62.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 421,468 shares of the bank’s stock worth $7,277,000 after purchasing an additional 161,684 shares during the period. Dfpg Investments LLC boosted its holdings in Grupo Financiero Galicia by 49.8% in the 4th quarter. Dfpg Investments LLC now owns 24,737 shares of the bank’s stock valued at $415,000 after purchasing an additional 8,224 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth $2,924,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Grupo Financiero Galicia during the 3rd quarter worth approximately $203,000.

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.