Irsa Inversiones y Rprsntcins (IRS) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Irsa Inversiones y Rprsntcins (NYSE:IRS) from a hold rating to a sell rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “IRSA Inversiones y Representaciones S.A. invests in and develops industrial, commercial and residential real estate in Argentina, Chile and Brazil. “

Shares of NYSE IRS opened at $10.31 on Friday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.87 and a current ratio of 1.87. Irsa Inversiones y Rprsntcins has a fifty-two week low of $9.83 and a fifty-two week high of $25.33.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Irsa Inversiones y Rprsntcins by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,789 shares of the financial services provider’s stock worth $1,186,000 after acquiring an additional 2,041 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Irsa Inversiones y Rprsntcins during the 3rd quarter worth about $93,000. Renaissance Technologies LLC raised its position in shares of Irsa Inversiones y Rprsntcins by 16.7% during the 3rd quarter. Renaissance Technologies LLC now owns 52,400 shares of the financial services provider’s stock worth $888,000 after acquiring an additional 7,500 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Irsa Inversiones y Rprsntcins by 42.0% during the 4th quarter. Nordea Investment Management AB now owns 39,216 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 11,600 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Irsa Inversiones y Rprsntcins during the 4th quarter worth about $365,000. 23.04% of the stock is currently owned by institutional investors and hedge funds.

Irsa Inversiones y Rprsntcins Company Profile

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

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