IRSA Inversiones Y Representaciones (NYSE:IRS) Shares Down 5.4% - What's Next?

Key Points

• IRSA Inversiones Y Representaciones (NYSE:IRS) shares fell 5.4% on Friday, trading as low as $11.92 after closing at $12.56.
• Analysts have downgraded the stock from a "strong-buy" rating to a "buy" rating, reflecting caution in market sentiment.
• Institutional investors have shown increased interest, with hedge funds holding 45.46% of the stock, indicating potential long-term confidence in the company's performance.

IRSA Inversiones Y Representaciones S.A. (NYSE:IRS - Get Free Report) fell 5.4% during mid-day trading on Friday . The stock traded as low as $11.92 and last traded at $11.88. 187,352 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 170,860 shares. The stock had previously closed at $12.56.

Analysts Set New Price Targets

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

IRSA Inversiones Y Representaciones Trading Down 4.9%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.88 and a current ratio of 1.88. The stock's fifty day moving average is $14.81 and its 200 day moving average is $14.27. The stock has a market cap of $904.85 million, a P/E ratio of 5.82 and a beta of 1.47.

IRSA Inversiones Y Representaciones (NYSE:IRS - Get Free Report) last announced its quarterly earnings data on Tuesday, September 2nd. The financial services provider reported $1.74 earnings per share (EPS) for the quarter. IRSA Inversiones Y Representaciones had a net margin of 36.40% and a return on equity of 12.96%. The business had revenue of $115.67 million during the quarter.

Institutional Investors Weigh In On IRSA Inversiones Y Representaciones

Several hedge funds have recently added to or reduced their stakes in IRS. Ridgewood Investments LLC boosted its stake in shares of IRSA Inversiones Y Representaciones by 810.8% during the 1st quarter. Ridgewood Investments LLC now owns 4,718 shares of the financial services provider's stock worth $61,000 after acquiring an additional 4,200 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of IRSA Inversiones Y Representaciones during the 4th quarter worth approximately $154,000. Deuterium Capital Management LLC acquired a new stake in shares of IRSA Inversiones Y Representaciones during the 1st quarter worth approximately $136,000. Engineers Gate Manager LP acquired a new stake in IRSA Inversiones Y Representaciones in the 2nd quarter valued at approximately $148,000. Finally, Cubist Systematic Strategies LLC increased its holdings in IRSA Inversiones Y Representaciones by 42.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 21,341 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 6,390 shares during the last quarter. 45.46% of the stock is owned by hedge funds and other institutional investors.

About IRSA Inversiones Y Representaciones

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.

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