IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Hits New 12-Month High Following Dividend Announcement

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS)’s stock price reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $16.21 and last traded at $16.13, with a volume of 72080 shares trading hands. The stock had previously closed at $15.83.

The newly announced dividend which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be issued a $3.60 dividend. This is a boost from IRSA Inversiones y Representaciones Sociedad Anónima’s previous — dividend of $1.02. The ex-dividend date is Friday, November 29th. IRSA Inversiones y Representaciones Sociedad Anónima’s dividend payout ratio (DPR) is currently -13.64%.

Wall Street Analyst Weigh In

Several research firms recently commented on IRS. StockNews.com lowered shares of IRSA Inversiones y Representaciones Sociedad Anónima from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group raised IRSA Inversiones y Representaciones Sociedad Anónima from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.50 to $13.00 in a research report on Wednesday, August 14th.

IRSA Inversiones y Representaciones Sociedad Anónima Stock Performance

The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -3.52 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a fifty day simple moving average of $12.78 and a two-hundred day simple moving average of $10.95.

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) last announced its quarterly earnings data on Tuesday, September 3rd. The financial services provider reported $1.31 EPS for the quarter. The firm had revenue of $129.87 million during the quarter. IRSA Inversiones y Representaciones Sociedad Anónima had a negative net margin of 79.31% and a positive return on equity of 8.24%.

Hedge Funds Weigh In On IRSA Inversiones y Representaciones Sociedad Anónima

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in IRSA Inversiones y Representaciones Sociedad Anónima during the 1st quarter valued at about $27,000. GAMMA Investing LLC boosted its position in IRSA Inversiones y Representaciones Sociedad Anónima by 71.0% in the third quarter. GAMMA Investing LLC now owns 3,418 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,419 shares during the last quarter. Quadrature Capital Ltd acquired a new position in IRSA Inversiones y Representaciones Sociedad Anónima in the 3rd quarter worth approximately $199,000. BW Gestao de Investimentos Ltda. purchased a new position in IRSA Inversiones y Representaciones Sociedad Anónima during the 2nd quarter worth approximately $269,000. Finally, Ping Capital Management Inc. acquired a new stake in IRSA Inversiones y Representaciones Sociedad Anónima during the 2nd quarter valued at approximately $289,000. 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.