Markit Ltd. (INFO) Trading Down 1.7% Following Insider Selling
Shares of Markit Ltd. (NASDAQ:INFO) were down 1.7% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $36.32 and last traded at $36.36, with a volume of 1,088,816 shares trading hands. The stock had previously closed at $37.00.
Specifically, CEO Jerre L. Stead sold 70,000 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $35.05, for a total value of $2,453,500.00. Following the completion of the sale, the chief executive officer now directly owns 843,380 shares of the company’s stock, valued at $29,560,469. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Daniel Yergin sold 50,528 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $37.49, for a total transaction of $1,894,294.72. Following the completion of the sale, the insider now directly owns 492,509 shares of the company’s stock, valued at $18,464,162.41. The disclosure for this sale can be found here.
A number of equities research analysts have recently commented on INFO shares. Deutsche Bank AG raised shares of Markit from a “hold” rating to a “buy” rating and upped their target price for the company from $37.00 to $42.00 in a report on Friday, July 15th. Zacks Investment Research raised shares of Markit from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. BMO Capital Markets reissued a “buy” rating and set a $41.00 price target on shares of Markit in a report on Wednesday, September 28th. TheStreet cut shares of Markit from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Markit in a report on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.08.
The company has a market cap of $6.46 billion, a P/E ratio of 57.51 and a beta of 0.94. The firm has a 50-day moving average price of $36.86 and a 200-day moving average price of $34.88.
Markit (NASDAQ:INFO) last released its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $724.60 million for the quarter, compared to the consensus estimate of $557.90 million. Markit had a net margin of 4.06% and a return on equity of 10.66%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. On average, analysts expect that Markit Ltd. will post $1.75 EPS for the current year.
An institutional investor recently bought a new position in Markit stock. BNP Paribas Arbitrage SA bought a new stake in Markit Ltd. (NASDAQ:INFO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,670 shares of the company’s stock, valued at approximately $551,000. Institutional investors own 54.26% of the company’s stock.
Markit Company Profile
Markit Ltd. is a global diversified provider of financial information services. The Company provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. The Company’s business is organized in three segments: Information, Processing and Solutions.
Receive News & Stock Ratings for Markit Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Markit Ltd. and related stocks with our FREE daily email newsletter.