Kovitz Investment Group Partners LLC Sells 77,263 Shares of IREN Limited $IREN

Key Points

• Kovitz Investment Group Partners LLC has sold 77,263 shares of IREN Limited, decreasing its holdings by 40.8% and now owns approximately 0.06% of the company.
• IREN Limited's stock has experienced significant price motion, with a 52-week low of $5.13 and a high of $21.54, currently trading around $19.76.
• Analysts have a consensus rating of "Moderate Buy" on IREN, with target prices ranging from $20.00 to $23.00, indicating positive outlooks on the stock's performance.

Kovitz Investment Group Partners LLC decreased its holdings in IREN Limited (NASDAQ:IREN - Free Report) by 40.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,982 shares of the company's stock after selling 77,263 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.06% of IREN worth $682,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in IREN in the 1st quarter valued at $39,000. Main Management LLC bought a new position in IREN in the 4th quarter valued at $49,000. Delta Financial Group Inc. acquired a new stake in shares of IREN in the 1st quarter valued at $61,000. R Squared Ltd increased its stake in shares of IREN by 170.1% in the 1st quarter. R Squared Ltd now owns 10,290 shares of the company's stock valued at $63,000 after buying an additional 6,480 shares during the period. Finally, US Bancorp DE acquired a new stake in shares of IREN in the 1st quarter valued at $69,000. Institutional investors own 41.08% of the company's stock.

IREN Price Performance

NASDAQ:IREN opened at $19.76 on Thursday. IREN Limited has a 1 year low of $5.13 and a 1 year high of $21.54. The stock has a 50-day moving average price of $15.87 and a two-hundred day moving average price of $10.78.

Analyst Ratings Changes

IREN has been the subject of several research reports. Macquarie lifted their target price on IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Canaccord Genuity Group reissued a "buy" rating and issued a $23.00 target price on shares of IREN in a research note on Friday, May 16th. HC Wainwright lowered their target price on IREN from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Wall Street Zen raised IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, B. Riley reissued a "buy" rating and issued a $22.00 target price (up from $15.00) on shares of IREN in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.89.

About IREN

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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