Irsa Inversiones y Rprsntcins (IRS) Lifted 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 released on Tuesday.

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 NYSE IRS opened at $12.54 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.56. Irsa Inversiones y Rprsntcins has a 1-year low of $11.73 and a 1-year high of $26.58. The company has a market cap of $751.71 million, a price-to-earnings ratio of 2.62 and a beta of 1.44.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. City of London Investment Management Co. Ltd. increased its stake in Irsa Inversiones y Rprsntcins by 23.5% during the fourth quarter. City of London Investment Management Co. Ltd. now owns 948,979 shares of the financial services provider’s stock worth $12,474,000 after acquiring an additional 180,656 shares during the last quarter. 683 Capital Management LLC increased its stake in Irsa Inversiones y Rprsntcins by 6.4% during the fourth quarter. 683 Capital Management LLC now owns 894,724 shares of the financial services provider’s stock worth $11,685,000 after acquiring an additional 53,653 shares during the last quarter. BlackRock Inc. increased its stake in Irsa Inversiones y Rprsntcins by 5.5% during the fourth quarter. BlackRock Inc. now owns 757,629 shares of the financial services provider’s stock worth $9,894,000 after acquiring an additional 39,506 shares during the last quarter. FMR LLC increased its stake in Irsa Inversiones y Rprsntcins by 113.6% during the fourth quarter. FMR LLC now owns 629,219 shares of the financial services provider’s stock worth $8,217,000 after acquiring an additional 334,647 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Irsa Inversiones y Rprsntcins by 7.1% during the third quarter. Alliancebernstein L.P. now owns 307,820 shares of the financial services provider’s stock worth $5,218,000 after acquiring an additional 20,460 shares during the last quarter. 23.28% of the stock is currently owned by institutional investors.

About Irsa Inversiones y Rprsntcins

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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