IREN Limited $IREN Shares Bought by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC increased its holdings in IREN Limited by 14.4% in the second quarter, now owning 75,508 shares valued at approximately $1.1 million.
• CEO Daniel John Roberts sold 1,000,000 shares of IREN, reducing his stake by 6.67%, but still retains holdings valued at around $463 million.
• IREN Limited reported earnings of $0.19 per share, exceeding analysts' estimates, and has been given a consensus target price of $51.64 by investment analysts.

Chicago Partners Investment Group LLC lifted its holdings in IREN Limited (NASDAQ:IREN - Free Report) by 14.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,508 shares of the company's stock after acquiring an additional 9,492 shares during the period. Chicago Partners Investment Group LLC's holdings in IREN were worth $1,100,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Situational Awareness LP acquired a new stake in shares of IREN in the first quarter worth $20,500,000. Vident Advisory LLC increased its position in shares of IREN by 0.6% in the first quarter. Vident Advisory LLC now owns 2,956,712 shares of the company's stock worth $18,006,000 after acquiring an additional 18,794 shares in the last quarter. Trexquant Investment LP increased its position in shares of IREN by 158.6% in the first quarter. Trexquant Investment LP now owns 1,038,220 shares of the company's stock worth $6,323,000 after acquiring an additional 636,767 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of IREN by 14.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 987,466 shares of the company's stock worth $6,014,000 after acquiring an additional 122,668 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of IREN by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 809,080 shares of the company's stock worth $4,927,000 after acquiring an additional 98,190 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.

IREN Trading Down 2.5%

NASDAQ IREN opened at $59.22 on Tuesday. IREN Limited has a 12 month low of $5.13 and a 12 month high of $74.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.29 and a quick ratio of 4.29. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 100.37 and a beta of 4.19. The company's fifty day moving average price is $38.30 and its two-hundred day moving average price is $20.58.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. IREN had a net margin of 33.03% and a return on equity of 1.34%. The firm had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. As a group, research analysts predict that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Daniel John Roberts sold 1,000,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the transaction, the chief executive officer directly owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IREN shares. Macquarie upped their target price on shares of IREN from $33.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Weiss Ratings restated a "hold (c-)" rating on shares of IREN in a research note on Wednesday, October 8th. BTIG Research upped their target price on shares of IREN from $32.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, October 14th. Cantor Fitzgerald upped their target price on shares of IREN from $27.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Finally, B. Riley upped their target price on shares of IREN from $22.00 to $29.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.64.

IREN Company Profile

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.

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