IRSA Inversiones Y Representaciones S.A. (NYSE:IRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $26.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 7.26% from the stock’s previous close.

According to Zacks, “IRSA Inversiones y Representaciones S.A. invests in and develops industrial, commercial and residential real estate in Argentina, Chile and Brazil. “

Several other analysts have also issued reports on IRS. BidaskClub raised shares of IRSA Inversiones Y Representaciones from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. TheStreet raised shares of IRSA Inversiones Y Representaciones from a “d+” rating to a “c-” rating in a research report on Tuesday, May 9th.

Shares of IRSA Inversiones Y Representaciones (NYSE:IRS) traded up 2.71% during mid-day trading on Monday, reaching $24.24. 52,581 shares of the company were exchanged. IRSA Inversiones Y Representaciones has a 12 month low of $15.20 and a 12 month high of $26.50. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 14.34 and a beta of 2.02. The firm’s 50-day moving average is $24.59 and its 200-day moving average is $22.73.

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Several institutional investors have recently modified their holdings of IRS. Macquarie Group Ltd. raised its position in shares of IRSA Inversiones Y Representaciones by 21.7% in the first quarter. Macquarie Group Ltd. now owns 2,040,633 shares of the financial services provider’s stock valued at $50,017,000 after buying an additional 363,247 shares during the last quarter. Serengeti Asset Management LP raised its position in shares of IRSA Inversiones Y Representaciones by 18.7% in the fourth quarter. Serengeti Asset Management LP now owns 1,187,000 shares of the financial services provider’s stock valued at $21,888,000 after buying an additional 187,000 shares during the last quarter. Tricadia Capital Management LLC raised its position in shares of IRSA Inversiones Y Representaciones by 10.2% in the first quarter. Tricadia Capital Management LLC now owns 586,169 shares of the financial services provider’s stock valued at $14,367,000 after buying an additional 54,300 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of IRSA Inversiones Y Representaciones by 43.2% in the first quarter. Russell Investments Group Ltd. now owns 208,468 shares of the financial services provider’s stock valued at $5,109,000 after buying an additional 62,867 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in shares of IRSA Inversiones Y Representaciones by 29.9% in the first quarter. Global X Management Co. LLC now owns 109,166 shares of the financial services provider’s stock valued at $2,676,000 after buying an additional 25,146 shares during the last quarter. 19.89% of the stock is currently owned by institutional investors.

About IRSA Inversiones Y Representaciones

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