Irsa Inversiones y Rprsntcins (IRS) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Irsa Inversiones y Rprsntcins (NYSE:IRS) from a hold rating to a sell rating in a research report sent to investors 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. “

NYSE IRS opened at $13.30 on Tuesday. The firm has a market capitalization of $772.54 million, a PE ratio of 2.78 and a beta of 1.44. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.87 and a quick ratio of 1.87. Irsa Inversiones y Rprsntcins has a 1 year low of $11.73 and a 1 year high of $26.29.

A number of large investors have recently added to or reduced their stakes in the stock. City of London Investment Management Co. Ltd. raised its position in shares of Irsa Inversiones y Rprsntcins by 23.5% in the 4th 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 purchasing an additional 180,656 shares during the last quarter. 683 Capital Management LLC raised its holdings in shares of Irsa Inversiones y Rprsntcins by 6.4% during the 4th 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 in the last quarter. BlackRock Inc. raised its holdings in shares of Irsa Inversiones y Rprsntcins by 5.5% during the 4th 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 in the last quarter. FMR LLC raised its holdings in Irsa Inversiones y Rprsntcins by 113.6% during the 4th quarter. FMR LLC now owns 629,219 shares of the financial services provider’s stock valued at $8,217,000 after buying an additional 334,647 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Irsa Inversiones y Rprsntcins by 7.1% during the 3rd quarter. Alliancebernstein L.P. now owns 307,820 shares of the financial services provider’s stock valued at $5,218,000 after buying an additional 20,460 shares during the period. Institutional investors and hedge funds own 23.04% of the company’s stock.

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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