Absolute Gestao de Investimentos Ltda. Purchases Shares of 151,603 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. purchased a new stake in IRSA Inversiones Y Representaciones S.A. (NYSE:IRS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 151,603 shares of the financial services provider's stock, valued at approximately $1,956,000. IRSA Inversiones Y Representaciones makes up 0.8% of Absolute Gestao de Investimentos Ltda.'s holdings, 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 SEC.

Several other large investors have also made changes to their positions in IRS. Fourth Sail Capital LP bought a new stake in shares of IRSA Inversiones Y Representaciones in the 1st quarter valued at approximately $7,271,000. Brevan Howard Capital Management LP bought a new stake in shares of IRSA Inversiones Y Representaciones in the 4th quarter valued at approximately $7,783,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of IRSA Inversiones Y Representaciones by 115.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 792,710 shares of the financial services provider's stock valued at $11,835,000 after buying an additional 424,052 shares in the last quarter. Helikon Investments Ltd grew its stake in shares of IRSA Inversiones Y Representaciones by 15.2% in the 1st quarter. Helikon Investments Ltd now owns 1,428,475 shares of the financial services provider's stock valued at $18,427,000 after buying an additional 188,573 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of IRSA Inversiones Y Representaciones by 379.9% in the 4th quarter. JPMorgan Chase & Co. now owns 96,049 shares of the financial services provider's stock valued at $1,434,000 after buying an additional 76,035 shares in the last quarter. Institutional investors own 45.46% of the company's stock.

Wall Street Analysts Forecast Growth

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

IRSA Inversiones Y Representaciones Stock Performance

Shares of NYSE IRS traded up $0.06 during trading hours on Friday, reaching $15.11. The stock had a trading volume of 133,146 shares, compared to its average volume of 154,766. The business's fifty day moving average is $14.81 and its two-hundred day moving average is $14.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.88 and a quick ratio of 1.88. 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 twelve month low of $9.07 and a twelve month high of $17.67.

IRSA Inversiones Y Representaciones 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.