Short Interest in Banco Macro SA ADR (NYSE:BMA) Rises By 34.2%

Banco Macro SA ADR (NYSE:BMA) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 420,000 shares, a growth of 34.2% from the June 30th total of 313,000 shares. Based on an average daily trading volume, of 769,400 shares, the short-interest ratio is presently 0.5 days. Approximately 0.7% of the company’s stock are short sold.

Shares of BMA traded down $0.68 on Friday, hitting $21.28. 366,781 shares of the stock traded hands, compared to its average volume of 512,264. The company has a market capitalization of $1.43 billion, a PE ratio of 1.87 and a beta of 1.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.23 and a current ratio of 1.12. The business has a 50 day simple moving average of $20.96 and a 200 day simple moving average of $22.80. Banco Macro has a one year low of $13.59 and a one year high of $77.31.

Banco Macro (NYSE:BMA) last announced its quarterly earnings results on Wednesday, June 10th. The bank reported $1.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.46). Banco Macro had a net margin of 27.10% and a return on equity of 43.05%. The firm had revenue of $436.93 million for the quarter. On average, equities analysts expect that Banco Macro will post 8.07 earnings per share for the current year.

Several analysts have commented on the stock. ValuEngine upgraded shares of Banco Macro from a “strong sell” rating to a “sell” rating in a report on Thursday, July 2nd. Zacks Investment Research lowered shares of Banco Macro from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Finally, HSBC lowered shares of Banco Macro from a “hold” rating to a “reduce” rating in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The company has a consensus rating of “Sell” and an average target price of $43.00.

A number of large investors have recently bought and sold shares of BMA. Royal Bank of Canada grew its position in Banco Macro by 151.0% in the 1st quarter. Royal Bank of Canada now owns 1,639 shares of the bank’s stock worth $28,000 after purchasing an additional 986 shares during the period. Tobam grew its position in Banco Macro by 210.3% in the 1st quarter. Tobam now owns 2,783 shares of the bank’s stock worth $47,000 after purchasing an additional 1,886 shares during the period. Quantum Capital Management grew its position in Banco Macro by 558.9% in the 1st quarter. Quantum Capital Management now owns 3,960 shares of the bank’s stock worth $67,000 after purchasing an additional 3,359 shares during the period. Marshall Wace LLP bought a new stake in Banco Macro in the 1st quarter worth approximately $98,000. Finally, Aigen Investment Management LP bought a new stake in Banco Macro in the 1st quarter worth approximately $110,000. 19.67% of the stock is owned by institutional investors and hedge funds.

Banco Macro Company Profile

Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail 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 (ATMs), and money transfers.

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