Ping Capital Management Inc. Invests $289,000 in IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS)

Ping Capital Management Inc. purchased a new position in shares of IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,300 shares of the financial services provider’s stock, valued at approximately $289,000.

Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the 1st quarter valued at about $27,000. Advisors Preferred LLC bought a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the 1st quarter valued at about $94,000. Deuterium Capital Management LLC bought a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the 1st quarter valued at about $96,000. QRG Capital Management Inc. bought a new stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the 4th quarter valued at about $177,000. Finally, Jump Financial LLC raised its holdings in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 65.9% in the 4th quarter. Jump Financial LLC now owns 22,900 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 9,100 shares in the last quarter. 45.46% of the stock is owned by hedge funds and other institutional investors.

IRSA Inversiones y Representaciones Sociedad Anónima Trading Down 0.8 %

NYSE IRS opened at $11.73 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.19. IRSA Inversiones y Representaciones Sociedad Anónima has a 52 week low of $5.73 and a 52 week high of $12.00. The firm has a market cap of $869.78 million, a PE ratio of 18.58 and a beta of 1.29. The company has a 50 day moving average price of $9.64 and a 200 day moving average price of $9.54.

Wall Street Analyst Weigh In

IRS has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of IRSA Inversiones y Representaciones Sociedad Anónima from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.50 to $13.00 in a report on Wednesday, August 14th. StockNews.com upgraded shares of IRSA Inversiones y Representaciones Sociedad Anónima from a “hold” rating to a “buy” rating in a research note on Friday.

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.