Absolute Gestao de Investimentos Ltda. Has $3.29 Million Stake in Macro Bank Inc. $BMA

Key Points

• Absolute Gestao de Investimentos cut its Macro Bank stake by 64.8% in the second quarter, selling 65,506 shares and retaining 35,507 shares worth approximately $3.29 million.
• Macro Bank exceeded quarterly expectations, reporting $2.29 in EPS versus the $1.86 consensus and $1 billion in revenue versus estimates of $946.46 million.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $111.25, despite recent ratings changes and the stock trading at $78.72.

Absolute Gestao de Investimentos Ltda. reduced its stake in shares of Macro Bank Inc. (NYSE:BMA - Free Report) by 64.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,507 shares of the bank's stock after selling 65,506 shares during the period. Macro Bank accounts for approximately 0.3% of Absolute Gestao de Investimentos Ltda.'s investment portfolio, making the stock its 20th biggest position. Absolute Gestao de Investimentos Ltda. owned approximately 0.06% of Macro Bank worth $3,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NewEdge Advisors LLC bought a new stake in shares of Macro Bank in the 1st quarter valued at about $704,000. Jones Financial Companies Lllp lifted its stake in shares of Macro Bank by 271,350.0% in the first quarter. Jones Financial Companies Lllp now owns 5,429 shares of the bank's stock worth $410,000 after acquiring an additional 5,427 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Macro Bank by 47.8% in the first quarter. Goldman Sachs Group Inc. now owns 66,816 shares of the bank's stock valued at $5,045,000 after acquiring an additional 21,613 shares during the last quarter. Jane Street Group LLC boosted its holdings in Macro Bank by 106.5% in the first quarter. Jane Street Group LLC now owns 13,705 shares of the bank's stock valued at $1,035,000 after acquiring an additional 7,067 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Macro Bank by 14.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 79,947 shares of the bank's stock valued at $5,613,000 after purchasing an additional 10,211 shares during the period.

Macro Bank Stock Performance

Shares of BMA opened at $78.72 on Monday. The stock has a 50 day moving average of $85.98 and a 200 day moving average of $82.15. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.35 and a beta of 1.38. Macro Bank Inc. has a 12 month low of $38.30 and a 12 month high of $106.15. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26.

Macro Bank (NYSE:BMA - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The bank reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.43. Macro Bank had a return on equity of 8.65% and a net margin of 5.95%.The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $946.46 million. As a group, sell-side analysts forecast that Macro Bank Inc. will post 8.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMA shares. JPMorgan Chase & Co. boosted their target price on shares of Macro Bank from $120.00 to $132.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Itau BBA Securities downgraded Macro Bank from an "outperform" rating to a "market perform" rating in a report on Thursday. Wall Street Zen lowered Macro Bank from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Zacks Research raised Macro Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Macro Bank from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $111.25.

About Macro Bank

Macro Bank NYSE: BMA is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.

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