Traders Buy High Volume of Put Options on Grupo Financiero Galicia (NASDAQ:GGAL)

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) saw unusually large options trading activity on Friday. Investors bought 9,379 put options on the stock. This is an increase of 206% compared to the average volume of 3,062 put options.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Norden Group LLC bought a new position in Grupo Financiero Galicia in the first quarter valued at approximately $383,000. Claro Advisors LLC bought a new position in Grupo Financiero Galicia in the first quarter valued at approximately $235,000. Shilanski & Associates Inc. bought a new position in Grupo Financiero Galicia in the first quarter valued at approximately $242,000. Virtu Financial LLC increased its stake in Grupo Financiero Galicia by 78.5% in the fourth quarter. Virtu Financial LLC now owns 37,821 shares of the bank’s stock valued at $653,000 after acquiring an additional 16,628 shares during the last quarter. Finally, AdvisorShares Investments LLC bought a new position in Grupo Financiero Galicia in the fourth quarter valued at approximately $516,000.

Grupo Financiero Galicia Stock Up 4.1 %

Shares of GGAL opened at $30.70 on Friday. Grupo Financiero Galicia has a 12 month low of $10.57 and a 12 month high of $31.85. The firm’s 50 day moving average is $25.27 and its 200-day moving average is $19.22.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of 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.