Grupo Supervielle (NYSE:SUPV) Shares Up 9% - Here's What Happened

Key Points

• Grupo Supervielle's shares surged by 9% during mid-day trading on Wednesday, reaching as high as $6.58, with a significant increase in trading volume of 36% compared to the average.
• Analysts indicate a consensus rating of "Hold" for Grupo Supervielle's stock, with a price target set at $17.00 following a downgrade from Citigroup.
• The company reported earnings per share of $0.14 for the last quarter, missing estimates, with a revenue of $210.52 million against anticipated figures of $283.67 million.

Shares of Grupo Supervielle S.A. (NYSE:SUPV - Get Free Report) shot up 9% during mid-day trading on Wednesday . The company traded as high as $6.58 and last traded at $6.52. 1,996,030 shares were traded during mid-day trading, an increase of 36% from the average session volume of 1,470,265 shares. The stock had previously closed at $5.98.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SUPV. Weiss Ratings restated a "hold (c)" rating on shares of Grupo Supervielle in a research note on Wednesday, October 8th. Citigroup downgraded shares of Grupo Supervielle from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Grupo Supervielle has a consensus rating of "Hold" and a consensus price target of $17.00.

Grupo Supervielle Price Performance

The stock has a fifty day moving average of $7.26 and a 200-day moving average of $10.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $562.61 million, a P/E ratio of 9.63, a PEG ratio of 13.18 and a beta of 1.56.

Grupo Supervielle (NYSE:SUPV - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). Grupo Supervielle had a net margin of 4.08% and a return on equity of 6.82%. The business had revenue of $210.52 million during the quarter, compared to the consensus estimate of $283.67 billion. Equities analysts predict that Grupo Supervielle S.A. will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. PointState Capital LP raised its holdings in Grupo Supervielle by 30.1% during the 1st quarter. PointState Capital LP now owns 2,467,243 shares of the company's stock worth $32,222,000 after purchasing an additional 570,523 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Grupo Supervielle by 971.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 441,798 shares of the company's stock worth $5,770,000 after purchasing an additional 400,579 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Grupo Supervielle during the 2nd quarter worth about $2,568,000. BNP Paribas Financial Markets raised its holdings in Grupo Supervielle by 196.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 365,776 shares of the company's stock worth $3,874,000 after purchasing an additional 242,440 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Grupo Supervielle during the 2nd quarter worth about $2,562,000.

Grupo Supervielle Company Profile

Grupo Supervielle SA, a financial services holding company, provides various banking products and services in Argentina. The company operates through Personal & Business Banking, Corporate Banking, Bank Treasury, Consumer Finance, Insurance, and Asset Management and Other Services segments. It offers savings accounts, time and demand deposits, and checking accounts; various loan products, including personal, consumer, mortgage, unsecured, and car loans; overdrafts; loans with special facilities for project and working capital financing; and leasing, bank guarantees for tenants, salary advances, domestic and international factoring, international guarantees and letters of credit, payroll payment plans, credit and debit cards, and senior citizens benefit payment services, as well as financial services and investments, such as mutual funds and guarantees.

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