Grupo Financiero Galicia (NASDAQ:GGAL) Shares Gap Down – Here’s What Happened

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) gapped down prior to trading on Tuesday . The stock had previously closed at $58.80, but opened at $56.09. Grupo Financiero Galicia shares last traded at $58.39, with a volume of 463,823 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GGAL. Morgan Stanley raised shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price objective on the stock in a research report on Monday, December 16th. StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Grupo Financiero Galicia Stock Performance

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average is $65.64 and its two-hundred day moving average is $53.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in Grupo Financiero Galicia in the fourth quarter worth $27,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Grupo Financiero Galicia in the fourth quarter worth about $34,000. Compass Group LLC bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth about $67,000. GeoWealth Management LLC acquired a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at about $71,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Grupo Financiero Galicia by 41.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,134 shares of the bank’s stock valued at $136,000 after acquiring an additional 624 shares in the last quarter.

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.