StockNews.com initiated coverage on shares of IRSA Propiedades Comerciales (NASDAQ:IRCP – Get Rating) in a report published on Monday. The brokerage issued a hold rating on the financial services provider’s stock.
IRCP opened at $2.59 on Monday. IRSA Propiedades Comerciales has a 1 year low of $1.90 and a 1 year high of $3.66. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $2.45 and its two-hundred day moving average price is $2.45.
Several institutional investors have recently bought and sold shares of the business. 683 Capital Management LLC raised its stake in shares of IRSA Propiedades Comerciales by 426.1% during the 3rd quarter. 683 Capital Management LLC now owns 2,594,814 shares of the financial services provider’s stock worth $7,655,000 after purchasing an additional 2,101,631 shares during the period. Autonomy Capital Jersey L.P. raised its position in IRSA Propiedades Comerciales by 333.0% in the third quarter. Autonomy Capital Jersey L.P. now owns 1,230,315 shares of the financial services provider’s stock worth $3,629,000 after acquiring an additional 946,167 shares during the period. Macquarie Group Ltd. raised its position in IRSA Propiedades Comerciales by 329.6% in the third quarter. Macquarie Group Ltd. now owns 356,891 shares of the financial services provider’s stock worth $1,053,000 after acquiring an additional 273,807 shares during the period. VR Advisory Services Ltd boosted its stake in IRSA Propiedades Comerciales by 329.5% in the third quarter. VR Advisory Services Ltd now owns 355,471 shares of the financial services provider’s stock valued at $1,034,000 after acquiring an additional 272,707 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of IRSA Propiedades Comerciales by 43.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,481 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 20,357 shares during the period. 17.80% of the stock is currently owned by hedge funds and other institutional investors.
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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