Grupo Financiero Galicia (NASDAQ:GGAL) Rating Lowered to Sell at Wall Street Zen

Key Points

• Grupo Financiero Galicia has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, marking a significant shift in analyst sentiment.
• The stock has seen a decline of 3.1% recently, trading at $29.58, and has a market cap of $4.36 billion.
• There has been notable investment activity, with hedge funds such as Northern Trust Corp and Bank of America Corp DE significantly increasing their holdings in the company.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Several other equities research analysts also recently commented on the stock. Zacks Research downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 28th. Citigroup downgraded shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $81.00.

Grupo Financiero Galicia Trading Down 3.1%

NASDAQ:GGAL traded down $0.95 during trading hours on Friday, hitting $29.58. The stock had a trading volume of 2,818,969 shares, compared to its average volume of 3,730,089. Grupo Financiero Galicia has a one year low of $25.89 and a one year high of $74.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 4.36 and a beta of 1.71. The business's 50 day moving average is $41.96 and its 200-day moving average is $51.09.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GGAL. Northern Trust Corp grew its position in Grupo Financiero Galicia by 50.7% in the fourth quarter. Northern Trust Corp now owns 12,581 shares of the bank's stock valued at $784,000 after purchasing an additional 4,234 shares in the last quarter. Bank of America Corp DE grew its position in Grupo Financiero Galicia by 86.4% in the fourth quarter. Bank of America Corp DE now owns 28,861 shares of the bank's stock valued at $1,799,000 after purchasing an additional 13,374 shares in the last quarter. Wallace Advisory Group LLC bought a new position in Grupo Financiero Galicia in the first quarter valued at $182,000. Handelsbanken Fonder AB grew its position in Grupo Financiero Galicia by 46.0% in the first quarter. Handelsbanken Fonder AB now owns 27,979 shares of the bank's stock valued at $1,524,000 after purchasing an additional 8,814 shares in the last quarter. Finally, ABS Direct Equity Fund LLC grew its position in Grupo Financiero Galicia by 95.4% in the first quarter. ABS Direct Equity Fund LLC now owns 20,791 shares of the bank's stock valued at $1,132,000 after purchasing an additional 10,152 shares in the last quarter.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.