Balyasny Asset Management L.P. Sells 6,370 Shares of Banco Macro S.A. (NYSE:BMA)

Balyasny Asset Management L.P. lowered its stake in Banco Macro S.A. (NYSE:BMA - Free Report) by 50.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. purchased a new position in shares of Banco Macro during the fourth quarter valued at about $735,000. Jump Financial LLC grew its holdings in shares of Banco Macro by 201.8% during the 4th quarter. Jump Financial LLC now owns 24,992 shares of the bank's stock worth $2,418,000 after acquiring an additional 16,710 shares during the period. HUB Investment Partners LLC purchased a new position in shares of Banco Macro in the 4th quarter valued at approximately $326,000. D.A. Davidson & CO. bought a new stake in shares of Banco Macro during the fourth quarter valued at approximately $284,000. Finally, JGP Global Gestao de Recursos Ltda. purchased a new position in Banco Macro during the fourth quarter valued at $834,000.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price target on shares of Banco Macro from $78.00 to $89.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st.

Banco Macro Stock Up 4.1%

Banco Macro stock traded up $3.82 during mid-day trading on Monday, hitting $96.29. The company had a trading volume of 534,893 shares, compared to its average volume of 328,846. Banco Macro S.A. has a 12 month low of $42.23 and a 12 month high of $118.42. The company has a market capitalization of $6.15 billion, a PE ratio of 8.44 and a beta of 1.73. The stock's 50 day moving average price is $83.63 and its two-hundred day moving average price is $89.57. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13.

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.