Banco Macro S.A. (NYSE:BMA) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. reduced its position in Banco Macro S.A. (NYSE:BMA - Free Report) by 50.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,315 shares of the bank's stock after selling 6,370 shares during the period. Balyasny Asset Management L.P.'s holdings in Banco Macro were worth $611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its position in Banco Macro by 136.1% in the 4th quarter. William Blair Investment Management LLC now owns 570,374 shares of the bank's stock valued at $55,188,000 after buying an additional 328,800 shares during the last quarter. Axiom Investors LLC DE boosted its position in Banco Macro by 72.8% in the 4th quarter. Axiom Investors LLC DE now owns 302,983 shares of the bank's stock valued at $29,317,000 after buying an additional 127,678 shares during the last quarter. Cape Ann Asset Management Ltd purchased a new position in Banco Macro in the 4th quarter valued at about $20,203,000. Gemsstock Ltd. purchased a new position in Banco Macro in the 4th quarter valued at about $15,349,000. Finally, LSV Asset Management boosted its position in Banco Macro by 5.9% in the 4th quarter. LSV Asset Management now owns 97,600 shares of the bank's stock valued at $9,444,000 after buying an additional 5,400 shares during the last quarter.

Banco Macro Stock Performance

BMA traded up $0.02 on Wednesday, hitting $95.31. 28,598 shares of the company's stock were exchanged, compared to its average volume of 327,427. The stock has a fifty day moving average of $84.13 and a two-hundred day moving average of $89.75. Banco Macro S.A. has a twelve month low of $42.23 and a twelve month high of $118.42. The firm has a market cap of $6.09 billion, a PE ratio of 8.36 and a beta of 1.73. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13.

Analyst Ratings Changes

A number of equities analysts have weighed in on BMA shares. JPMorgan Chase & Co. upped their price objective on shares of Banco Macro from $78.00 to $89.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Itau BBA Securities started coverage on shares of Banco Macro in a research report on Tuesday. They set a "market perform" rating and a $85.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $62.13.

Banco Macro Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.