Absolute Gestao de Investimentos Ltda. Takes Position in IRSA Inversiones Y Representaciones S.A. $IRS

Key Points

• Absolute Gestao de Investimentos Ltda. acquired 151,603 shares of IRSA Inversiones Y Representaciones S.A. for approximately $1,956,000, making it the firm's 18th largest holding.
• Other investors, such as Ridgewood Investments LLC and Deuterium Capital Management LLC, also increased their stakes in IRSA during the first quarter.
• The stock has seen a decline of 1.8% recently, with a current trading price of $15.40 and a market capitalization of $1.17 billion.

Absolute Gestao de Investimentos Ltda. acquired a new position in shares of IRSA Inversiones Y Representaciones S.A. (NYSE:IRS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 151,603 shares of the financial services provider's stock, valued at approximately $1,956,000. IRSA Inversiones Y Representaciones comprises 0.8% of Absolute Gestao de Investimentos Ltda.'s investment portfolio, making the stock its 18th biggest holding. Absolute Gestao de Investimentos Ltda. owned about 0.20% of IRSA Inversiones Y Representaciones as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in IRSA Inversiones Y Representaciones by 379.9% during the 4th quarter. JPMorgan Chase & Co. now owns 96,049 shares of the financial services provider's stock worth $1,434,000 after purchasing an additional 76,035 shares in the last quarter. Invesco Ltd. grew its stake in shares of IRSA Inversiones Y Representaciones by 95.1% during the 4th quarter. Invesco Ltd. now owns 52,790 shares of the financial services provider's stock worth $788,000 after acquiring an additional 25,738 shares in the last quarter. XTX Topco Ltd bought a new position in shares of IRSA Inversiones Y Representaciones during the 4th quarter worth approximately $196,000. Mirabella Financial Services LLP grew its stake in shares of IRSA Inversiones Y Representaciones by 14.8% during the 4th quarter. Mirabella Financial Services LLP now owns 88,504 shares of the financial services provider's stock worth $1,321,000 after acquiring an additional 11,411 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of IRSA Inversiones Y Representaciones in the 4th quarter valued at approximately $154,000. 45.46% of the stock is owned by institutional investors.

IRSA Inversiones Y Representaciones Trading Up 0.4%

Shares of IRS stock traded up $0.06 during mid-day trading on Friday, reaching $15.11. 133,146 shares of the stock traded hands, compared to its average volume of 150,353. The stock's fifty day simple moving average is $14.84 and its two-hundred day simple moving average is $14.26. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.35. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 9.57 and a beta of 1.36. IRSA Inversiones Y Representaciones S.A. has a 1-year low of $9.07 and a 1-year high of $17.67.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded IRSA Inversiones Y Representaciones from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th.

IRSA Inversiones Y Representaciones Company Profile

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.