IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Reaches New 1-Year High – Here’s Why

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $14.85 and last traded at $14.71, with a volume of 47945 shares. The stock had previously closed at $14.26.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group raised IRSA Inversiones y Representaciones Sociedad Anónima from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.50 to $13.00 in a report on Wednesday, August 14th. StockNews.com downgraded IRSA Inversiones y Representaciones Sociedad Anónima from a “buy” rating to a “hold” rating in a research note on Friday, November 8th.

IRSA Inversiones y Representaciones Sociedad Anónima Trading Up 4.6 %

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.22 and a beta of 1.28. The firm has a 50-day moving average price of $12.42 and a 200-day moving average price of $10.74. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16.

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) last issued its quarterly earnings results on Tuesday, September 3rd. The financial services provider reported $1.31 earnings per share (EPS) for the quarter. IRSA Inversiones y Representaciones Sociedad Anónima had a positive return on equity of 8.24% and a negative net margin of 79.31%. The company had revenue of $129.87 million for the quarter.

Hedge Funds Weigh In On IRSA Inversiones y Representaciones Sociedad Anónima

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 71.0% in the third quarter. GAMMA Investing LLC now owns 3,418 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,419 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the first quarter worth $27,000. Secure Asset Management LLC boosted its position in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 12.6% in the third quarter. Secure Asset Management LLC now owns 96,927 shares of the financial services provider’s stock worth $1,103,000 after buying an additional 10,824 shares during the period. BNP Paribas Financial Markets boosted its position in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 14.0% in the third quarter. BNP Paribas Financial Markets now owns 98,416 shares of the financial services provider’s stock worth $1,120,000 after buying an additional 12,071 shares during the period. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the second quarter worth $269,000. 45.46% of the stock is currently owned by institutional investors and hedge funds.

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. It operates through five segments: Shopping Malls, Offices, Hotels, Sales and Developments, and Others. 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.