IRSA Propiedades Comerciales S.A. (NASDAQ:IRCP) Short Interest Up 82.1% in May

IRSA Propiedades Comerciales S.A. (NASDAQ:IRCPGet Rating) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 5,100 shares, a growth of 82.1% from the April 30th total of 2,800 shares. Based on an average daily volume of 46,100 shares, the days-to-cover ratio is currently 0.1 days.

Separately, StockNews.com assumed coverage on IRSA Propiedades Comerciales in a research note on Saturday, May 21st. They set a “hold” rating for the company.

IRCP opened at $2.50 on Friday. IRSA Propiedades Comerciales has a 12 month low of $2.01 and a 12 month high of $3.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.88. The business has a fifty day moving average price of $2.47 and a 200 day moving average price of $2.38.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of IRSA Propiedades Comerciales by 289.7% during the 3rd quarter. BlackRock Inc. now owns 9,278 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 6,897 shares in the last quarter. Morgan Stanley boosted its position in shares of IRSA Propiedades Comerciales by 256.0% during the 3rd quarter. Morgan Stanley now owns 10,264 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 7,381 shares in the last quarter. Raymond James & Associates acquired a new position in shares of IRSA Propiedades Comerciales during the 3rd quarter worth about $32,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of IRSA Propiedades Comerciales during the 3rd quarter worth about $43,000. Finally, Geode Capital Management LLC purchased a new stake in shares of IRSA Propiedades Comerciales in the 3rd quarter valued at about $44,000. 15.59% of the stock is owned by hedge funds and other institutional investors.

IRSA Propiedades Comerciales Company Profile (Get Rating)

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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