IRSA Inversiones Y Representaciones (NYSE:IRS) Hits New 12-Month High on Analyst Upgrade

Shares of IRSA Inversiones Y Representaciones S.A. (NYSE:IRS) hit a new 52-week high during trading on Monday after Itau BBA Securities upgraded the stock to a strong-buy rating. The company traded as high as $19.14 and last traded at $17.3240, with a volume of 236637 shares traded. The stock had previously closed at $18.39.

A number of other analysts have also weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of IRSA Inversiones Y Representaciones in a report on Thursday, January 22nd. Wall Street Zen cut IRSA Inversiones Y Representaciones from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, IRSA Inversiones Y Representaciones presently has an average rating of “Buy” and a consensus price target of $23.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in IRSA Inversiones Y Representaciones in the third quarter valued at about $25,000. Engineers Gate Manager LP acquired a new position in shares of IRSA Inversiones Y Representaciones during the 2nd quarter worth about $148,000. Brevan Howard Capital Management LP bought a new stake in shares of IRSA Inversiones Y Representaciones in the 3rd quarter valued at about $130,000. Verition Fund Management LLC raised its position in shares of IRSA Inversiones Y Representaciones by 23.2% in the 3rd quarter. Verition Fund Management LLC now owns 16,721 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 3,148 shares during the period. Finally, Jane Street Group LLC bought a new position in IRSA Inversiones Y Representaciones during the 2nd quarter worth approximately $249,000. 45.46% of the stock is currently owned by institutional investors.

IRSA Inversiones Y Representaciones Stock Down 2.6%

The firm has a market cap of $1.29 billion, a P/E ratio of 3.35 and a beta of 1.48. The firm’s 50 day moving average is $16.14 and its two-hundred day moving average is $14.76. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.30.

IRSA Inversiones Y Representaciones (NYSE:IRS) last posted its earnings results on Tuesday, November 25th. The financial services provider reported $1.45 earnings per share for the quarter. IRSA Inversiones Y Representaciones had a net margin of 86.65% and a return on equity of 27.35%. The company had revenue of $93.69 million for the quarter.

IRSA Inversiones Y Representaciones Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 24th were paid a $1.4151 dividend. This represents a yield of 998.0%. The ex-dividend date of this dividend was Monday, November 24th. IRSA Inversiones Y Representaciones’s payout ratio is presently 28.17%.

IRSA Inversiones Y Representaciones Company Profile

IRSA Inversiones y Representaciones SA (NYSE: IRS) is Argentina’s leading real estate company, specializing in the development, acquisition and management of commercial, office, residential and hospitality properties. The company’s core operations encompass the planning and operation of shopping centers, premium office towers in Buenos Aires, urban residential complexes and full-service hotels. IRSA leverages its extensive land bank and development expertise to create mixed-use destinations that cater to evolving urban lifestyles.

IRSA’s shopping center division features a portfolio of flagship malls in Argentina, complemented by its Mall Plaza platform, which develops and operates retail destinations in Chile, Peru and Colombia.