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

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) shares dropped 5.4% on Friday . The company traded as low as $11.92 and last traded at $11.88. Approximately 187,352 shares were traded during trading, an increase of 10% from the average daily volume of 170,860 shares. The stock had previously closed at $12.56.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of IRSA Inversiones Y Representaciones from a "buy" rating to a "hold" rating in a research report on Saturday.

IRSA Inversiones Y Representaciones Price Performance

The company has a market cap of $910.45 million, a PE ratio of 5.85 and a beta of 1.47. The company has a quick ratio of 1.88, a current ratio of 2.17 and a debt-to-equity ratio of 0.30. The business's 50 day moving average price is $14.60 and its 200-day moving average price is $14.23.

IRSA Inversiones Y Representaciones (NYSE:IRS - Get Free Report) last announced its quarterly earnings results on Tuesday, September 2nd. The financial services provider reported $1.74 earnings per share (EPS) for the quarter. The company had revenue of $115.67 million during the quarter. IRSA Inversiones Y Representaciones had a net margin of 36.40% and a return on equity of 12.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IRS. Invesco Ltd. increased its stake in shares of IRSA Inversiones Y Representaciones by 1.9% in the first quarter. Invesco Ltd. now owns 53,817 shares of the financial services provider's stock valued at $694,000 after buying an additional 1,027 shares in the last quarter. Ridgewood Investments LLC raised its position in shares of IRSA Inversiones Y Representaciones by 810.8% during the first quarter. Ridgewood Investments LLC now owns 4,718 shares of the financial services provider's stock worth $61,000 after purchasing an additional 4,200 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of IRSA Inversiones Y Representaciones by 42.7% during the first quarter. Cubist Systematic Strategies LLC now owns 21,341 shares of the financial services provider's stock worth $275,000 after purchasing an additional 6,390 shares during the period. Systrade AG boosted its stake in shares of IRSA Inversiones Y Representaciones by 6.2% during the 2nd quarter. Systrade AG now owns 110,000 shares of the financial services provider's stock worth $1,532,000 after acquiring an additional 6,399 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of IRSA Inversiones Y Representaciones during the 4th quarter worth approximately $154,000. 45.46% of the stock is currently owned by institutional investors and hedge funds.

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.