Loma Negra Compania Industrial Argentina (NYSE:LOMA) Shares Gap Down - Here's What Happened

Key Points

• Loma Negra Compania Industrial Argentina shares gapped down to open at $7.96 after closing at $9.00, currently trading at $8.28 with a trading volume of 372,683 shares.
• Analysts have mixed opinions, with Morgan Stanley upgrading the stock from "equal weight" to "overweight" and raising its price target to $15.00, while Wall Street Zen downgraded it from "buy" to "hold."
• Significant institutional investments include GAMMA Investing LLC increasing its stake by 935.8%, bringing their total to 46,147 shares worth $507,000.

Loma Negra Compania Industrial Argentina S.A. Sponsored ADR (NYSE:LOMA - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $9.00, but opened at $7.96. Loma Negra Compania Industrial Argentina shares last traded at $8.28, with a volume of 372,683 shares trading hands.

Wall Street Analysts Forecast Growth

LOMA has been the topic of several recent research reports. Morgan Stanley upgraded shares of Loma Negra Compania Industrial Argentina from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $13.00 to $15.00 in a report on Tuesday, May 20th. Citigroup initiated coverage on shares of Loma Negra Compania Industrial Argentina in a report on Wednesday, June 18th. They set a "buy" rating and a $16.00 target price on the stock. Finally, Wall Street Zen lowered shares of Loma Negra Compania Industrial Argentina from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $14.80.

Loma Negra Compania Industrial Argentina Trading Down 3.7%

The company's 50-day moving average price is $10.42 and its two-hundred day moving average price is $11.02. The company has a market cap of $888.06 million, a P/E ratio of 13.84 and a beta of 1.06.

Institutional Investors Weigh In On Loma Negra Compania Industrial Argentina

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Loma Negra Compania Industrial Argentina by 935.8% during the 1st quarter. GAMMA Investing LLC now owns 46,147 shares of the company's stock valued at $507,000 after buying an additional 41,692 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of Loma Negra Compania Industrial Argentina during the 4th quarter valued at about $500,000. BNP Paribas Financial Markets grew its position in shares of Loma Negra Compania Industrial Argentina by 57.5% during the 4th quarter. BNP Paribas Financial Markets now owns 19,807 shares of the company's stock valued at $236,000 after buying an additional 7,232 shares during the last quarter. Bank of America Corp DE grew its position in shares of Loma Negra Compania Industrial Argentina by 187.9% during the 4th quarter. Bank of America Corp DE now owns 150,808 shares of the company's stock valued at $1,801,000 after buying an additional 98,417 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Loma Negra Compania Industrial Argentina by 576.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 180,122 shares of the company's stock valued at $1,980,000 after buying an additional 153,503 shares during the last quarter. Institutional investors own 19.32% of the company's stock.

Loma Negra Compania Industrial Argentina Company Profile

Loma Negra Compañía Industrial Argentina Sociedad Anónima, together with its subsidiaries, manufactures and sells cement and its derivatives in Argentina. The company operates through Cement, Masonry Cement and Lime; Concrete; Railroad; Aggregates; and Others segments. It offers masonry cement, aggregates, ready-mix concrete, concrete, and lime to wholesale distributors, concrete producers, industrial customers, and others for use in the construction.