IRSA Propiedades Comerciales (NASDAQ:IRCP) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of IRSA Propiedades Comerciales (NASDAQ:IRCP) from a hold rating to a sell rating in a report issued on Monday, February 4th.

Several other research firms have also weighed in on IRCP. Zacks Investment Research lowered IRSA Propiedades Comerciales from a hold rating to a sell rating in a report on Thursday, December 13th. Santander lowered IRSA Propiedades Comerciales from a hold rating to an underperform rating in a report on Thursday, December 6th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $28.50.

IRCP stock opened at $22.63 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.16 and a current ratio of 6.17. The stock has a market cap of $712.88 million, a price-to-earnings ratio of 1.09 and a beta of 0.50. IRSA Propiedades Comerciales has a 1-year low of $16.82 and a 1-year high of $50.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. 683 Capital Management LLC increased its position in IRSA Propiedades Comerciales by 76.8% during the fourth quarter. 683 Capital Management LLC now owns 72,050 shares of the financial services provider’s stock worth $1,299,000 after buying an additional 31,303 shares during the last quarter. Macquarie Group Ltd. acquired a new position in IRSA Propiedades Comerciales during the fourth quarter worth approximately $1,010,000. VR Advisory Services Ltd acquired a new position in IRSA Propiedades Comerciales during the fourth quarter worth approximately $932,000. Newfoundland Capital Management grew its position in shares of IRSA Propiedades Comerciales by 4.8% in the fourth quarter. Newfoundland Capital Management now owns 205,395 shares of the financial services provider’s stock valued at $3,703,000 after purchasing an additional 9,428 shares during the last quarter. Finally, BlackRock Inc. acquired a new position in shares of IRSA Propiedades Comerciales in the fourth quarter valued at approximately $74,000. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

IRSA Propiedades Comerciales Company Profile

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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