Stock Traders Buy Large Volume of Put Options on Grupo Financiero Galicia (NASDAQ:GGAL)

Key Points

• Grupo Financiero Galicia experienced a significant surge in options trading, with stock traders purchasing 12,655 put options, marking a 773% increase from the typical volume.
• The company's stock price fell 5.6% to $42.7460, while its 50-day moving average is $50.10 and its 200-day moving average is $55.21.
• Grupo Financiero Galicia has recently cut its dividend to $0.1504, with an ex-dividend date set for August 29th, reflecting a payout ratio of 6.19%.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) saw some unusual options trading activity on Monday. Investors bought 12,655 put options on the company. Thisisanincreaseof773% compared to the average volume of 1,449 put options.

Institutional Trading of Grupo Financiero Galicia

Several hedge funds have recently made changes to their positions in the company. Orion Porfolio Solutions LLC acquired a new stake in shares of Grupo Financiero Galicia in the 2nd quarter worth $386,000. Squarepoint Ops LLC purchased a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at about $757,000. Marex Group plc purchased a new position in Grupo Financiero Galicia during the 2nd quarter valued at about $627,000. Lazard Asset Management LLC purchased a new position in Grupo Financiero Galicia during the 2nd quarter valued at about $3,282,000. Finally, Brevan Howard Capital Management LP increased its holdings in Grupo Financiero Galicia by 83.1% during the 2nd quarter. Brevan Howard Capital Management LP now owns 125,280 shares of the bank's stock valued at $6,560,000 after acquiring an additional 56,845 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on GGAL. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Itau BBA Securities began coverage on shares of Grupo Financiero Galicia in a research report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price objective on the stock. Finally, Zacks Research downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $72.00.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL traded down $0.51 during trading hours on Friday, reaching $39.28. 1,324,142 shares of the company's stock were exchanged, compared to its average volume of 1,696,893. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 5.78 and a beta of 1.60. The company has a 50-day moving average of $48.77 and a 200 day moving average of $54.57. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. Grupo Financiero Galicia has a 1-year low of $34.76 and a 1-year high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a special dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 29th will be paid a dividend of $0.1504 per share. The ex-dividend date is Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio is currently 8.39%.

Grupo Financiero Galicia Company Profile

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.