Banco BBVA Argentina S.A. (NYSE:BBAR) Sees Large Growth in Short Interest

Banco BBVA Argentina S.A. (NYSE:BBAR) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,140,000 shares, a growth of 9.2% from the October 31st total of 1,960,000 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 771,900 shares, the days-to-cover ratio is presently 2.8 days.

Hedge Funds Weigh In On Banco BBVA Argentina

Hedge funds have recently made changes to their positions in the stock. Fourth Sail Capital LP increased its holdings in Banco BBVA Argentina by 74.6% in the second quarter. Fourth Sail Capital LP now owns 2,361,386 shares of the bank’s stock worth $21,843,000 after purchasing an additional 1,009,103 shares in the last quarter. PointState Capital LP boosted its stake in Banco BBVA Argentina by 14.2% during the third quarter. PointState Capital LP now owns 1,664,893 shares of the bank’s stock worth $17,265,000 after acquiring an additional 206,399 shares in the last quarter. Ping Capital Management Inc. acquired a new stake in Banco BBVA Argentina in the second quarter worth $11,293,000. Sagil Capital LLP bought a new stake in Banco BBVA Argentina in the third quarter valued at $2,131,000. Finally, Mirabella Financial Services LLP acquired a new position in shares of Banco BBVA Argentina during the third quarter valued at about $1,155,000.

Banco BBVA Argentina Price Performance

BBAR traded down $0.67 on Wednesday, reaching $16.57. The stock had a trading volume of 491,433 shares, compared to its average volume of 871,651. Banco BBVA Argentina has a fifty-two week low of $4.63 and a fifty-two week high of $18.24. The firm has a 50-day moving average of $13.77 and a 200-day moving average of $11.24. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 8.97 and a beta of 1.49.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Banco BBVA Argentina from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

About Banco BBVA Argentina

Banco BBVA Argentina SA provides various banking products and services to individuals and companies in Argentina. The company provides retail banking products and services, such as checking and savings accounts, time deposits, credit cards financing, consumer and pledge loans, mortgages, insurance, and investment products to individuals; and small and medium-sized companies products and services, including financing products, factoring, checking accounts, time deposits, transactional and payroll services, insurance, and investment products to private-sector companies.