Irsa Inversiones y Rprsntcins (IRS) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Irsa Inversiones y Rprsntcins (NYSE:IRS) from a sell rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “IRSA Inversiones y Representaciones S.A. invests in and develops industrial, commercial and residential real estate in Argentina, Chile and Brazil. “

Shares of Irsa Inversiones y Rprsntcins stock opened at $13.99 on Wednesday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market capitalization of $797.42 million, a price-to-earnings ratio of 2.93 and a beta of 1.55. Irsa Inversiones y Rprsntcins has a one year low of $11.73 and a one year high of $26.95.

A number of institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in Irsa Inversiones y Rprsntcins by 113.6% in the 4th quarter. FMR LLC now owns 629,219 shares of the financial services provider’s stock worth $8,217,000 after purchasing an additional 334,647 shares during the period. Nordea Investment Management AB increased its stake in Irsa Inversiones y Rprsntcins by 42.0% in the 4th quarter. Nordea Investment Management AB now owns 39,216 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 11,600 shares during the period. 683 Capital Management LLC increased its stake in Irsa Inversiones y Rprsntcins by 6.4% in the 4th quarter. 683 Capital Management LLC now owns 894,724 shares of the financial services provider’s stock worth $11,685,000 after purchasing an additional 53,653 shares during the period. Legal & General Group Plc increased its stake in Irsa Inversiones y Rprsntcins by 225.8% in the 4th quarter. Legal & General Group Plc now owns 17,906 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 12,410 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Irsa Inversiones y Rprsntcins by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,789 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 2,041 shares during the period. 19.15% of the stock is currently owned by institutional investors and hedge funds.

Irsa Inversiones y Rprsntcins Company Profile

IRSA Inversiones y Representaciones Sociedad Anónima engages in the diversified real estate activities in Argentina. It is involved in the acquisition, development, and operation of shopping malls, and office buildings and other non-shopping center properties primarily for rental purposes. The company also acquires and operates hotels; develops and sells residential properties; and acquires undeveloped land reserves for future development or sale.

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