StockNews.com started coverage on shares of IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS – Free Report) in a research report report published on Thursday morning. The firm issued a buy rating on the financial services provider’s stock.

IRSA Inversiones y Representaciones Sociedad Anónima Trading Up 1.4 %

Shares of IRSA Inversiones y Representaciones Sociedad Anónima stock traded up $0.10 on Thursday, hitting $7.16. The stock had a trading volume of 11,749 shares, compared to its average volume of 97,288. The stock’s 50-day simple moving average is $7.54 and its two-hundred day simple moving average is $6.52. IRSA Inversiones y Representaciones Sociedad Anónima has a one year low of $3.49 and a one year high of $8.58. The stock has a market cap of $580.60 million, a price-to-earnings ratio of 1.73 and a beta of 1.11. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.17.

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Institutional Trading of IRSA Inversiones y Representaciones Sociedad Anónima

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eaton Vance Management purchased a new position in IRSA Inversiones y Representaciones Sociedad Anónima during the first quarter valued at $1,155,000. Millennium Management LLC increased its holdings in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 286.0% during the second quarter. Millennium Management LLC now owns 72,208 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 53,501 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 8.4% during the second quarter. Macquarie Group Ltd. now owns 2,291,575 shares of the financial services provider’s stock valued at $8,250,000 after acquiring an additional 178,129 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 10.7% during the second quarter. Goldman Sachs Group Inc. now owns 140,897 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 13,584 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of IRSA Inversiones y Representaciones Sociedad Anónima during the third quarter valued at $58,000. Hedge funds and other institutional investors own 14.45% of the company’s stock.

About IRSA Inversiones y Representaciones Sociedad Anónima

IRSA Inversiones y Representaciones Sociedad Anónima, together with its subsidiaries, 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.

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