Discovery Capital Management Reduces Stake in Banco BBVA Argentina

Discovery Capital Management LLC CT has significantly reduced its investment in Banco BBVA Argentina S.A. (NYSE:BBAR - Free Report) by approximately 80.8% in the fourth quarter, as stated in their most recent 13F filing with the Securities and Exchange Commission. After this reduction, the firm now holds 52,100 shares of Banco BBVA Argentina's stock, having sold off 219,900 shares during the specified period. As of the latest filing, the value of Discovery Capital Management's holdings in Banco BBVA Argentina stands at about $993,000.

A number of other institutional investors and hedge funds have also made adjustments to their positions concerning Banco BBVA Argentina. Quantbot Technologies LP increased their holdings by an impressive 694.6% in the third quarter, now owning 27,612 shares valued at $286,000 after acquiring an additional 24,137 shares. Similarly, Benjamin Edwards Inc. established a new position in Banco BBVA Argentina during the third quarter, valued at $293,000. PointState Capital LP raised their stake by 14.2%, now holding 1,664,893 shares valued at $17,265,000 after purchasing an extra 206,399 shares in the last quarter. Moreover, Point72 Asset Management L.P. expanded its stake in the bank by 72.8%, owning 43,200 shares with a worth of $448,000 following an additional purchase of 18,200 shares. Lastly, XTX Topco Ltd acquired a new stake in Banco BBVA Argentina during the third quarter, valued at $136,000.

Analyst Ratings Review

The stock of Banco BBVA Argentina has drawn attention from several analysts recently. In a report on December 24, StockNews.com downgraded the stock from a "buy" rating to a "hold." Conversely, on December 16, Morgan Stanley upgraded Banco BBVA Argentina from an "underweight" rating to an "overweight" rating, setting a target price of $27.00 for the stock.

Current Stock Performance

As of Tuesday, Banco BBVA Argentina's stock opened at $18.12. The firm has a quick ratio and a current ratio of 0.99, alongside a debt-to-equity ratio of 0.09. Its market capitalization is approximately $3.70 billion, with a price-to-earnings (PE) ratio of 9.43 and a beta of 1.41. Over the past 50 days, the simple moving average for the stock is $19.85, whereas the 200-day average is $17.24. The stock reached a fifty-two-week low of $7.05 and a high of $25.01.

Company Overview

Banco BBVA Argentina SA offers a broad range of banking products and services catering to both individuals and businesses in Argentina. The bank provides retail banking services such as checking and savings accounts, time deposits, credit cards, loans, mortgages, insurance, and investment products for individual clients. Additionally, it serves small and medium-sized enterprises with products like financing solutions, factoring services, transactional accounts, time deposits, insurance, and investment offerings.

Future Considerations

With changes in holdings by significant investors and varying analyst opinions, Banco BBVA Argentina continues to attract focus in the financial markets. Investors might want to keep an eye on developments surrounding the bank as they consider their options.

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