Shares of IRSA Inversiones y Representaciones SA (NYSE:IRS) fell 2.3% on Friday . The stock traded as low as $18.33 and last traded at $18.38, with a volume of 92,449 shares changing hands. The stock had previously closed at $18.81.

Separately, Morgan Stanley lowered shares of IRSA Inversiones y Representaciones SA from an “overweight” rating to an “equal weight” rating in a report on Thursday.

The firm has a market cap of $1.06 billion and a P/E ratio of 183.80. The company’s 50-day moving average is $16.80 and its 200-day moving average is $13.88.

A hedge fund recently raised its stake in IRSA Inversiones y Representaciones SA stock. Morgan Stanley raised its stake in IRSA Inversiones y Representaciones SA (NYSE:IRS) by 1.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 91,611 shares of the company’s stock after buying an additional 1,709 shares during the period. Morgan Stanley owned approximately 0.16% of IRSA Inversiones y Representaciones SA worth $1,126,000 as of its most recent filing with the SEC.

Irsa Inversiones y Representaciones Sociedad Anonima (IRSA) is a real estate company. The Company is engaged, directly and indirectly through subsidiaries and joint ventures, in a range of diversified real estate related activities in Argentina, including the acquisition, development and operation of shopping centers; the development and sale of residential properties; the acquisition and development of office and other non-shopping center properties primarily for rental purposes; the acquisition and operation of luxury hotels; the acquisition of undeveloped land reserves for future development or sale, and selected real estate investments outside Argentina.

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