IRSA Propiedades Comerciales S.A. (NASDAQ:IRCP) Short Interest Down 33.3% in March

IRSA Propiedades Comerciales S.A. (NASDAQ:IRCPGet Rating) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,000 shares, a drop of 33.3% from the March 15th total of 1,500 shares. Based on an average daily trading volume, of 47,500 shares, the short-interest ratio is currently 0.0 days.

Separately, StockNews.com started coverage on IRSA Propiedades Comerciales in a research note on Monday, April 11th. They set a “hold” rating for the company.

NASDAQ:IRCP opened at $2.60 on Friday. IRSA Propiedades Comerciales has a 52-week low of $1.90 and a 52-week high of $3.66. The stock has a fifty day moving average of $2.47 and a 200 day moving average of $2.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.88.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in IRSA Propiedades Comerciales by 60.2% during the fourth quarter. BlackRock Inc. now owns 14,866 shares of the financial services provider’s stock valued at $34,000 after buying an additional 5,588 shares during the period. Morgan Stanley boosted its stake in IRSA Propiedades Comerciales by 256.0% during the third quarter. Morgan Stanley now owns 10,264 shares of the financial services provider’s stock valued at $31,000 after buying an additional 7,381 shares during the period. Raymond James & Associates bought a new stake in IRSA Propiedades Comerciales during the third quarter valued at $32,000. Mercer Global Advisors Inc. ADV bought a new stake in IRSA Propiedades Comerciales during the third quarter valued at $43,000. Finally, Geode Capital Management LLC bought a new stake in IRSA Propiedades Comerciales during the third quarter valued at $44,000. 17.80% of the stock is owned by institutional investors.

IRSA Propiedades Comerciales Company Profile (Get Rating)

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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