Grupo Financiero Galicia (NASDAQ:GGAL) Trading Up 8.4% – Time to Buy?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares shot up 8.4% during mid-day trading on Thursday . The company traded as high as $67.61 and last traded at $67.58. 678,918 shares traded hands during trading, a decline of 34% from the average session volume of 1,034,339 shares. The stock had previously closed at $62.32.

Analysts Set New Price Targets

GGAL has been the subject of several research reports. StockNews.com downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Morgan Stanley raised shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 target price for the company in a report on Monday, December 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Grupo Financiero Galicia Trading Up 1.9 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 9.62 and a beta of 1.87. The company has a fifty day moving average of $58.76 and a two-hundred day moving average of $44.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Grupo Financiero Galicia in the second quarter valued at $51,000. NorthRock Partners LLC purchased a new position in shares of Grupo Financiero Galicia in the 3rd quarter valued at about $253,000. XTX Topco Ltd acquired a new stake in shares of Grupo Financiero Galicia in the third quarter valued at about $266,000. Truist Financial Corp purchased a new stake in Grupo Financiero Galicia during the second quarter worth about $273,000. Finally, Quadrature Capital Ltd acquired a new position in Grupo Financiero Galicia during the third quarter worth about $278,000.

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.