IRSA Propiedades Comerciales S.A. (NASDAQ:IRCP) Short Interest Up 120.0% in April

IRSA Propiedades Comerciales S.A. (NASDAQ:IRCPGet Rating) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,200 shares, a growth of 120.0% from the March 31st total of 1,000 shares. Based on an average daily volume of 49,500 shares, the short-interest ratio is presently 0.0 days.

A number of institutional investors and hedge funds have recently modified their holdings of IRCP. BlackRock Inc. lifted its stake in IRSA Propiedades Comerciales by 289.7% during the third quarter. BlackRock Inc. now owns 9,278 shares of the financial services provider’s stock valued at $27,000 after buying an additional 6,897 shares in the last quarter. Morgan Stanley raised its holdings in shares of 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 acquiring an additional 7,381 shares during the period. Raymond James & Associates purchased a new stake in shares of IRSA Propiedades Comerciales in the 3rd quarter valued at approximately $32,000. Mercer Global Advisors Inc. ADV acquired a new position in IRSA Propiedades Comerciales in the 3rd quarter worth approximately $43,000. Finally, Geode Capital Management LLC purchased a new position in IRSA Propiedades Comerciales during the 3rd quarter worth approximately $44,000. 17.80% of the stock is currently owned by hedge funds and other institutional investors.

Separately, StockNews.com assumed coverage on shares of IRSA Propiedades Comerciales in a research report on Wednesday. They issued a “hold” rating on the stock.

Shares of IRSA Propiedades Comerciales stock opened at $2.41 on Friday. IRSA Propiedades Comerciales has a 12-month low of $1.97 and a 12-month 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 stock’s fifty day moving average is $2.51 and its 200-day moving average is $2.44.

About IRSA Propiedades Comerciales (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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