Absolute Gestao de Investimentos Ltda. Invests $7.88 Million in Grupo Financiero Galicia S.A. $GGAL

Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 168,677 shares of the bank's stock, valued at approximately $7,879,000. Grupo Financiero Galicia makes up about 0.9% of Absolute Gestao de Investimentos Ltda.'s portfolio, making the stock its 23rd largest position. Absolute Gestao de Investimentos Ltda. owned approximately 0.11% of Grupo Financiero Galicia as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of GGAL. Rockefeller Capital Management L.P. purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter worth about $39,000. Caitong International Asset Management Co. Ltd grew its position in Grupo Financiero Galicia by 4,942.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank's stock valued at $58,000 after acquiring an additional 2,076 shares during the last quarter. State of Wyoming purchased a new position in Grupo Financiero Galicia in the 4th quarter worth about $74,000. Leonteq Securities AG increased its position in shares of Grupo Financiero Galicia by 563.2% during the first quarter. Leonteq Securities AG now owns 2,036 shares of the bank's stock worth $95,000 after acquiring an additional 1,729 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Grupo Financiero Galicia during the second quarter valued at approximately $151,000.

Insider Transactions at Grupo Financiero Galicia

In other news, Director Silvestre Vila Moret bought 224,000 shares of the firm's stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average price of $5.36 per share, for a total transaction of $1,200,640.00. Following the completion of the transaction, the director directly owned 3,000,000 shares in the company, valued at $16,080,000. The trade was a 8.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders bought 802,791 shares of company stock valued at $4,253,109.

Grupo Financiero Galicia Stock Down 1.7%

Shares of GGAL stock opened at $49.30 on Friday. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 0.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.13 and a quick ratio of 1.16. The stock's fifty day moving average price is $50.04 and its 200 day moving average price is $48.30. Grupo Financiero Galicia S.A. has a 1-year low of $25.89 and a 1-year high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.07). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.70 billion. On average, research analysts expect that Grupo Financiero Galicia S.A. will post 3.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

GGAL has been the subject of several research reports. Wall Street Zen upgraded Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Weiss Ratings upgraded Grupo Financiero Galicia from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday. Zacks Research raised shares of Grupo Financiero Galicia from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.33.

Grupo Financiero Galicia Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country's largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.

Want to see what other hedge funds are holding GGAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.