IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRSGet Rating) in a report issued on Friday. The brokerage set a “hold” rating on the financial services provider’s stock.

NYSE IRS opened at $4.32 on Friday. The business has a fifty day simple moving average of $4.84 and a 200 day simple moving average of $4.55. IRSA Inversiones y Representaciones Sociedad Anónima has a 12 month low of $3.56 and a 12 month high of $5.77. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19.

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRSGet Rating) last released its quarterly earnings results on Friday, February 11th. The financial services provider reported $0.07 EPS for the quarter. The company had revenue of $61.96 million during the quarter.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 54.3% during the 2nd quarter. Morgan Stanley now owns 11,466 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 4,037 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima during the third quarter worth $47,000. BlackRock Inc. lifted its position in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 80.7% during the fourth quarter. BlackRock Inc. now owns 14,672 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 6,551 shares in the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima during the first quarter worth $75,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the fourth quarter worth $81,000. 15.53% of the stock is owned by institutional investors and hedge funds.

About IRSA Inversiones y Representaciones Sociedad Anónima (Get Rating)

IRSA Inversiones y Representaciones Sociedad Anónima engages in the diversified real estate activities in Argentina. The company is involved in the acquisition, development, and operation of shopping malls, office buildings, and other non-shopping mall properties primarily for rental purposes. It also develops and sells residential properties; acquires and operates luxury hotels; and acquires undeveloped land reserves for future development or sale.

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