IRSA Inversiones Y Representaciones (NYSE:IRS) Hits New 12-Month High After Analyst Upgrade

IRSA Inversiones Y Representaciones S.A. (NYSE:IRS) hit a new 52-week high during mid-day trading on Monday after Itau BBA Securities upgraded the stock to a strong-buy rating. The stock traded as high as $19.14 and last traded at $17.3240, with a volume of 236637 shares trading hands. The stock had previously closed at $18.39.

A number of other research firms have also weighed in on IRS. Wall Street Zen lowered IRSA Inversiones Y Representaciones from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of IRSA Inversiones Y Representaciones in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $23.00.

Institutional Trading of IRSA Inversiones Y Representaciones

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in shares of IRSA Inversiones Y Representaciones in the 1st quarter valued at about $4,209,000. Helikon Investments Ltd boosted its holdings in IRSA Inversiones Y Representaciones by 65.7% in the second quarter. Helikon Investments Ltd now owns 2,367,181 shares of the financial services provider’s stock valued at $32,975,000 after purchasing an additional 938,706 shares in the last quarter. JPMorgan Chase & Co. increased its stake in IRSA Inversiones Y Representaciones by 200.7% in the second quarter. JPMorgan Chase & Co. now owns 339,549 shares of the financial services provider’s stock valued at $4,730,000 after purchasing an additional 226,617 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in IRSA Inversiones Y Representaciones during the second quarter worth approximately $315,000. Finally, Bosun Asset Management LLC lifted its position in shares of IRSA Inversiones Y Representaciones by 24.7% during the 2nd quarter. Bosun Asset Management LLC now owns 163,598 shares of the financial services provider’s stock worth $2,279,000 after buying an additional 32,406 shares during the last quarter. 45.46% of the stock is owned by hedge funds and other institutional investors.

IRSA Inversiones Y Representaciones Stock Performance

The firm’s fifty day moving average price is $16.14 and its 200-day moving average price is $14.76. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 3.35 and a beta of 1.48.

IRSA Inversiones Y Representaciones (NYSE:IRS) last announced its quarterly earnings results on Tuesday, November 25th. The financial services provider reported $1.45 EPS for the quarter. IRSA Inversiones Y Representaciones had a net margin of 86.65% and a return on equity of 27.35%. The firm had revenue of $93.69 million for the quarter.

IRSA Inversiones Y Representaciones Announces Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 24th were given a dividend of $1.4151 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a yield of 998.0%. IRSA Inversiones Y Representaciones’s payout ratio is 28.17%.

About IRSA Inversiones Y Representaciones

IRSA Inversiones y Representaciones SA (NYSE: IRS) is Argentina’s leading real estate company, specializing in the development, acquisition and management of commercial, office, residential and hospitality properties. The company’s core operations encompass the planning and operation of shopping centers, premium office towers in Buenos Aires, urban residential complexes and full-service hotels. IRSA leverages its extensive land bank and development expertise to create mixed-use destinations that cater to evolving urban lifestyles.

IRSA’s shopping center division features a portfolio of flagship malls in Argentina, complemented by its Mall Plaza platform, which develops and operates retail destinations in Chile, Peru and Colombia.