Deltec Asset Management LLC lowered its position in Banco Macro SA (NYSE:BMA) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 38,850 shares of the company’s stock after selling 600 shares during the period. Deltec Asset Management LLC’s holdings in Banco Macro SA were worth $2,883,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BMA. Smith Asset Management Group LP purchased a new stake in Banco Macro SA during the second quarter worth approximately $210,000. BARING ASSET MANAGEMENT Ltd increased its stake in Banco Macro SA by 0.3% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 24,627 shares of the company’s stock worth $1,828,000 after buying an additional 73 shares during the last quarter. Hermes Investment Management Ltd. increased its stake in Banco Macro SA by 46.1% in the second quarter. Hermes Investment Management Ltd. now owns 422,719 shares of the company’s stock worth $31,374,000 after buying an additional 133,299 shares during the last quarter. Harding Loevner LP purchased a new stake in Banco Macro SA during the second quarter worth approximately $7,796,000. Finally, Eqis Capital Management Inc. purchased a new stake in Banco Macro SA during the second quarter worth approximately $400,000. Institutional investors own 19.95% of the company’s stock.

Banco Macro SA (NYSE:BMA) traded down 0.84% during trading on Tuesday, reaching $73.46. The company had a trading volume of 137,407 shares. The stock has a 50 day moving average price of $76.04 and a 200 day moving average price of $69.91. Banco Macro SA has a 12 month low of $35.93 and a 12 month high of $83.18. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 10.25 and a beta of 1.56.

A number of analysts have commented on the company. Zacks Investment Research upgraded Banco Macro SA from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Tuesday, August 30th. JPMorgan Chase & Co. upgraded Banco Macro SA from a “neutral” rating to an “overweight” rating in a research report on Friday, June 17th. Finally, Citigroup Inc. upgraded Banco Macro SA from a “sell” rating to a “neutral” rating in a research report on Monday, May 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $75.50.

About Banco Macro SA

Banco Macro SA (the Bank) is a bank. The Bank offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. The Bank offers savings and checking accounts, credit and debit cards, consumer finance loans (including personal loans), mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automatic teller machines (ATMs) and money transfers.

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