IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Reaches New 1-Year High Following Dividend Announcement

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS)’s stock price reached a new 52-week high during 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. The stock had previously closed at $15.83.

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

Analysts Set New Price Targets

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

IRSA Inversiones y Representaciones Sociedad Anónima Stock Performance

The firm’s 50 day moving average is $12.69 and its 200-day moving average is $10.91. The company has a market cap of $1.20 billion, a PE ratio of -3.49 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.89 and a current ratio of 0.89.

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 earnings per share (EPS) for the quarter. The business had revenue of $129.87 million for 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

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of 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 worth $39,000 after purchasing an additional 1,419 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of IRSA Inversiones y Representaciones Sociedad Anónima in the 1st quarter valued at about $27,000. Secure Asset Management LLC increased its position in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 12.6% in the third quarter. Secure Asset Management LLC now owns 96,927 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 10,824 shares during the last quarter. BNP Paribas Financial Markets boosted its position in IRSA Inversiones y Representaciones Sociedad Anónima by 14.0% during the third quarter. BNP Paribas Financial Markets now owns 98,416 shares of the financial services provider’s stock valued at $1,120,000 after purchasing an additional 12,071 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in IRSA Inversiones y Representaciones Sociedad Anónima during the third quarter worth $199,000. 45.46% of the stock is currently owned by institutional investors and hedge funds.

About IRSA Inversiones y Representaciones Sociedad Anónima

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.