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

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

Grupo Financiero Galicia Price Performance

Shares of NASDAQ GGAL traded up $2.03 on Tuesday, hitting $33.29. The company had a trading volume of 465,966 shares, compared to its average volume of 1,004,447. The business has a 50 day moving average of $25.48 and a two-hundred day moving average of $19.41. Grupo Financiero Galicia has a 12-month low of $10.57 and a 12-month high of $33.59.

Hedge Funds Weigh In On Grupo Financiero Galicia

Hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its position in shares of Grupo Financiero Galicia by 3.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 38,564 shares of the bank’s stock worth $503,000 after acquiring an additional 1,123 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Grupo Financiero Galicia in the third quarter valued at approximately $42,000. Hsbc Holdings PLC raised its holdings in shares of Grupo Financiero Galicia by 1.2% during the third 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 during the last quarter. Turim 21 Investimentos Ltda. grew its holdings in Grupo Financiero Galicia by 42.9% in the 3rd quarter. Turim 21 Investimentos Ltda. now owns 10,991 shares of the bank’s stock worth $143,000 after buying an additional 3,302 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Grupo Financiero Galicia in the 4th quarter valued at approximately $86,000.

Analyst Upgrades and Downgrades

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

About Grupo Financiero Galicia

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.