Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Sees Significant Growth in Short Interest

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,820,000 shares, an increase of 26.9% from the March 31st total of 3,010,000 shares. Based on an average daily trading volume, of 1,030,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.2% of the shares of the company are sold short.

Grupo Financiero Galicia Trading Up 6.5 %

Grupo Financiero Galicia stock traded up $2.03 during mid-day trading on Tuesday, hitting $33.29. The stock had a trading volume of 465,966 shares, compared to its average volume of 1,004,447. The firm’s 50 day moving average is $25.48 and its 200 day moving average is $19.41. Grupo Financiero Galicia has a one year low of $10.57 and a one year high of $33.59.

Institutional Trading of Grupo Financiero Galicia

Several institutional investors have recently made changes to their positions in GGAL. Hsbc Holdings PLC grew its holdings in Grupo Financiero Galicia by 1.2% during the 3rd quarter. Hsbc Holdings PLC now owns 255,668 shares of the bank’s stock valued at $3,370,000 after buying an additional 3,116 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Grupo Financiero Galicia by 62.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 421,468 shares of the bank’s stock valued at $7,277,000 after purchasing an additional 161,684 shares during the last quarter. Dfpg Investments LLC grew its position in shares of Grupo Financiero Galicia by 49.8% during the fourth quarter. Dfpg Investments LLC now owns 24,737 shares of the bank’s stock valued at $415,000 after purchasing an additional 8,224 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Grupo Financiero Galicia in the fourth quarter worth about $2,924,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Grupo Financiero Galicia in the third quarter worth about $203,000.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Wednesday, April 17th.

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.