Shares of IRSA Inversiones y Representaciones SA (NYSE:IRS) gapped up before the market opened on Friday . The stock had previously closed at $16.95, but opened at $16.96. IRSA Inversiones y Representaciones SA shares last traded at $17.24, with a volume of 40,275 shares changing hands.

The company’s 50 day moving average is $16.32 and its 200-day moving average is $13.65. The stock has a market cap of $1.03 billion and a PE ratio of 180.10.

A hedge fund recently raised its stake in IRSA Inversiones y Representaciones SA stock. Morgan Stanley boosted its stake in IRSA Inversiones y Representaciones SA (NYSE:IRS) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 SEC filing.

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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