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

Key Points

• Shares of IRSA Inversiones Y Representaciones opened significantly lower at $12.04 after closing at $14.33, indicating a gap down before market hours.
• Wall Street Zen downgraded the stock's rating from "strong-buy" to "buy", reflecting a shift in analyst sentiment.
• The company's earnings report from September showed an EPS of $1.74, with a market capitalization of $963.42 million and a strong net margin of 36.40%.

Shares of IRSA Inversiones Y Representaciones S.A. (NYSE:IRS - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $14.33, but opened at $12.04. IRSA Inversiones Y Representaciones shares last traded at $12.77, with a volume of 320,222 shares.

Analyst Upgrades and Downgrades

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

IRSA Inversiones Y Representaciones Stock Down 11.3%

The firm's 50-day simple moving average is $14.95 and its two-hundred day simple moving average is $14.31. The stock has a market cap of $963.42 million, a price-to-earnings ratio of 6.20 and a beta of 1.47. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.88 and a current ratio of 1.88.

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

Hedge Funds Weigh In On IRSA Inversiones Y Representaciones

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC lifted its position in 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 during the period. Deuterium Capital Management LLC bought a new position in IRSA Inversiones Y Representaciones in the 1st quarter worth approximately $136,000. Engineers Gate Manager LP acquired a new stake in shares of IRSA Inversiones Y Representaciones during the 2nd quarter valued at $148,000. Jane Street Group LLC acquired a new position in IRSA Inversiones Y Representaciones during the fourth quarter worth $154,000. Finally, Cubist Systematic Strategies LLC grew its position in 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 buying an additional 6,390 shares in the last quarter. 45.46% of the stock is owned by hedge funds and other institutional investors.

IRSA Inversiones Y Representaciones Company Profile

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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