IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Stock Price Down 6.8% – Here’s What Happened

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) shares traded down 6.8% on Wednesday . The company traded as low as $10.84 and last traded at $10.72. 35,644 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 162,668 shares. The stock had previously closed at $11.50.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IRSA Inversiones y Representaciones Sociedad Anónima from a “hold” rating to a “buy” rating in a research report on Monday, February 17th.

IRSA Inversiones y Representaciones Sociedad Anónima Stock Down 3.5 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a fifty day moving average of $13.47 and a two-hundred day moving average of $14.14. The firm has a market capitalization of $841.27 million, a price-to-earnings ratio of -2.55 and a beta of 1.23.

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) last posted its earnings results on Friday, February 7th. The financial services provider reported $0.92 earnings per share for the quarter. IRSA Inversiones y Representaciones Sociedad Anónima had a negative net margin of 79.08% and a positive return on equity of 10.23%.

Institutional Investors Weigh In On IRSA Inversiones y Representaciones Sociedad Anónima

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in IRSA Inversiones y Representaciones Sociedad Anónima by 37.7% during the 4th quarter. GAMMA Investing LLC now owns 4,706 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 1,288 shares during the period. Pictet Asset Management Holding SA purchased a new position in IRSA Inversiones y Representaciones Sociedad Anónima during the fourth quarter valued at $72,000. Jane Street Group LLC bought a new stake in IRSA Inversiones y Representaciones Sociedad Anónima during the fourth quarter worth about $154,000. XTX Topco Ltd purchased a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the 4th quarter worth approximately $196,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the third quarter worth $199,000. Hedge funds and other institutional investors own 45.46% of the company’s stock.

IRSA Inversiones y Representaciones Sociedad Anónima 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.