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 large growth in short interest in 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 trading volume of 1,030,000 shares, the short-interest ratio is presently 3.7 days. Currently, 3.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Grupo Financiero Galicia Price Performance

Shares of Grupo Financiero Galicia stock traded up $1.21 during trading on Friday, reaching $30.70. 967,866 shares of the company’s stock were exchanged, compared to its average volume of 1,102,493. Grupo Financiero Galicia has a 1-year low of $10.57 and a 1-year high of $31.85. The firm’s 50-day moving average price is $25.27 and its 200 day moving average price is $19.22.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Grupo Financiero Galicia in the 3rd quarter worth about $42,000. FNY Investment Advisers LLC acquired a new position in Grupo Financiero Galicia in the 4th quarter worth about $86,000. Wrapmanager Inc. acquired a new position in Grupo Financiero Galicia in the 3rd quarter worth about $137,000. Turim 21 Investimentos Ltda. increased 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 purchasing an additional 3,302 shares in the last quarter. Finally, JGP Global Gestao de Recursos Ltda. acquired a new position in Grupo Financiero Galicia in the 3rd quarter worth about $159,000.

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.