Dorsey Wright & Associates increased its stake in Banco Macro S.A. (NYSE:BMA - Free Report) by 13.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,100 shares of the bank's stock after purchasing an additional 8,679 shares during the quarter. Banco Macro makes up approximately 1.1% of Dorsey Wright & Associates' investment portfolio, making the stock its 27th biggest position. Dorsey Wright & Associates' holdings in Banco Macro were worth $4,769,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Shilanski & Associates Inc. purchased a new stake in Banco Macro in the second quarter worth about $244,000. Atlas Capital Advisors LLC purchased a new stake in Banco Macro in the 2nd quarter worth approximately $362,000. Candriam S.C.A. bought a new stake in Banco Macro during the 2nd quarter worth approximately $43,236,000. Acadian Asset Management LLC purchased a new position in Banco Macro during the second quarter valued at approximately $1,466,000. Finally, LSV Asset Management boosted its position in shares of Banco Macro by 23.1% in the second quarter. LSV Asset Management now owns 78,804 shares of the bank's stock worth $4,518,000 after purchasing an additional 14,804 shares during the period.
Banco Macro Trading Up 0.8 %
Shares of BMA opened at $86.62 on Friday. Banco Macro S.A. has a 1 year low of $24.41 and a 1 year high of $89.45. The company has a 50 day simple moving average of $76.98 and a two-hundred day simple moving average of $64.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 0.79. The firm has a market cap of $5.54 billion, a P/E ratio of 7.59 and a beta of 1.75.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on BMA. StockNews.com downgraded shares of Banco Macro from a "buy" rating to a "hold" rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upgraded Banco Macro from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $14.00 to $78.00 in a research report on Friday, August 30th.
Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.
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