GAMMA Investing LLC Purchases 76,916 Shares of Banco Macro S.A. (NYSE:BMA)

GAMMA Investing LLC increased its position in shares of Banco Macro S.A. (NYSE:BMA - Free Report) by 9,810.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,700 shares of the bank's stock after acquiring an additional 76,916 shares during the period. GAMMA Investing LLC owned approximately 0.12% of Banco Macro worth $5,867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Voloridge Investment Management LLC bought a new stake in Banco Macro during the 4th quarter worth approximately $920,000. Vident Advisory LLC bought a new stake in Banco Macro during the 4th quarter worth approximately $258,000. PointState Capital LP increased its holdings in Banco Macro by 25.1% during the 4th quarter. PointState Capital LP now owns 339,020 shares of the bank's stock worth $32,804,000 after acquiring an additional 68,096 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Banco Macro by 84.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 539,074 shares of the bank's stock worth $52,161,000 after buying an additional 247,070 shares in the last quarter. Finally, Duquesne Family Office LLC grew its stake in Banco Macro by 14.5% in the 4th quarter. Duquesne Family Office LLC now owns 485,430 shares of the bank's stock worth $46,970,000 after buying an additional 61,300 shares in the last quarter.

Banco Macro Trading Down 4.7%

Shares of Banco Macro stock traded down $3.69 during trading on Friday, reaching $74.25. The company's stock had a trading volume of 353,395 shares, compared to its average volume of 320,844. Banco Macro S.A. has a 52-week low of $42.23 and a 52-week high of $118.42. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 6.51 and a beta of 1.68. The firm's 50-day moving average is $85.97 and its two-hundred day moving average is $90.15. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

Banco Macro (NYSE:BMA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The bank reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $1.76 by ($1.11). Banco Macro had a net margin of 15.12% and a return on equity of 26.55%. The firm had revenue of $759.36 million for the quarter, compared to the consensus estimate of $837.49 billion. On average, sell-side analysts anticipate that Banco Macro S.A. will post 7.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMA. Itau BBA Securities began coverage on shares of Banco Macro in a research note on Tuesday, May 20th. They issued a "market perform" rating and a $85.00 price objective for the company. 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 note on Monday, April 21st. Four equities research 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 a consensus 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.