Arrowstreet Capital Limited Partnership Trims Holdings in IRSA Inversiones Y Representaciones S.A. $IRS

Key Points

• Arrowstreet Capital cut its IRSA stake by 68% in the first quarter, selling 150,782 shares and retaining 70,930 shares worth approximately $1.15 million. Institutional investors collectively own 45.46% of the company.
• Other major institutions generally increased their positions, including Helikon Investments, which raised its stake by 21% to more than 4.1 million shares. Meanwhile, IRSA CIO Jorge Alberto Cruces sold 24,913 shares at an average price of $1.53.
• Analyst sentiment remains favorable, with a consensus “Buy” rating and a $23.00 target price, despite the stock opening at $14.80 and the company reporting a quarterly loss of $0.28 per share.

Arrowstreet Capital Limited Partnership cut its stake in shares of IRSA Inversiones Y Representaciones S.A. (NYSE:IRS - Free Report) by 68.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,930 shares of the financial services provider's stock after selling 150,782 shares during the period. Arrowstreet Capital Limited Partnership owned 0.09% of IRSA Inversiones Y Representaciones worth $1,150,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IRS. Helikon Investments Ltd boosted its holdings in shares of IRSA Inversiones Y Representaciones by 21.0% in the 4th quarter. Helikon Investments Ltd now owns 4,142,489 shares of the financial services provider's stock worth $68,517,000 after purchasing an additional 718,512 shares in the last quarter. VR Advisory Services Ltd raised its holdings in shares of IRSA Inversiones Y Representaciones by 0.5% during the fourth quarter. VR Advisory Services Ltd now owns 2,670,087 shares of the financial services provider's stock valued at $44,163,000 after acquiring an additional 13,926 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of IRSA Inversiones Y Representaciones by 0.8% during the fourth quarter. JPMorgan Chase & Co. now owns 923,798 shares of the financial services provider's stock valued at $15,280,000 after acquiring an additional 6,969 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in IRSA Inversiones Y Representaciones by 19.3% in the fourth quarter. BNP Paribas Financial Markets now owns 601,369 shares of the financial services provider's stock worth $9,947,000 after acquiring an additional 97,089 shares during the period. Finally, Millennium Management LLC boosted its holdings in IRSA Inversiones Y Representaciones by 9.1% in the third quarter. Millennium Management LLC now owns 386,440 shares of the financial services provider's stock valued at $4,575,000 after acquiring an additional 32,180 shares in the last quarter. Institutional investors own 45.46% of the company's stock.

Insider Activity

In other news, CIO Jorge Alberto Cruces sold 24,913 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $1.53, for a total value of $38,116.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 25.06% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of IRSA Inversiones Y Representaciones in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $23.00.

IRSA Inversiones Y Representaciones Price Performance

IRS opened at $14.80 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 4.28 and a beta of 1.30. The stock has a fifty day simple moving average of $15.59 and a two-hundred day simple moving average of $15.47. IRSA Inversiones Y Representaciones S.A. has a 12-month low of $10.87 and a 12-month high of $19.14.

IRSA Inversiones Y Representaciones (NYSE:IRS - Get Free Report) last released its earnings results on Tuesday, March 31st. The financial services provider reported ($0.28) earnings per share for the quarter. IRSA Inversiones Y Representaciones had a return on equity of 18.88% and a net margin of 67.46%.The business had revenue of $104.67 million during the quarter.

About IRSA Inversiones Y Representaciones

IRSA Inversiones y Representaciones SA NYSE: IRS is Argentina’s leading real estate company, specializing in the development, acquisition and management of commercial, office, residential and hospitality properties. The company’s core operations encompass the planning and operation of shopping centers, premium office towers in Buenos Aires, urban residential complexes and full-service hotels. IRSA leverages its extensive land bank and development expertise to create mixed-use destinations that cater to evolving urban lifestyles.

IRSA’s shopping center division features a portfolio of flagship malls in Argentina, complemented by its Mall Plaza platform, which develops and operates retail destinations in Chile, Peru and Colombia.

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