Short Interest in Markit Ltd. (INFO) Rises By 27.9%
Markit Ltd. (NASDAQ:INFO) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 8,149,022 shares, an increase of 27.9% from the October 14th total of 6,371,540 shares. Based on an average daily volume of 1,681,125 shares, the short-interest ratio is presently 4.8 days. Currently, 2.2% of the shares of the company are sold short.
Several brokerages recently commented on INFO. Cantor Fitzgerald reaffirmed a “hold” rating and set a $35.00 price objective on shares of Markit in a research note on Tuesday. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Markit in a research note on Friday, July 22nd. RBC Capital Markets set a $42.00 price objective on shares of Markit and gave the company a “buy” rating in a research note on Wednesday, September 28th. Robert W. Baird raised shares of Markit from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $39.00 to $41.00 in a research note on Friday, September 16th. Finally, TheStreet raised shares of Markit from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.57.
In related news, Vice Chairman Daniel Yergin sold 50,528 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 492,509 shares of the company’s stock, valued at $18,464,162.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Todd S. Hyatt sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $36.83, for a total transaction of $515,620.00. Following the transaction, the chief financial officer now directly owns 365,459 shares of the company’s stock, valued at approximately $13,459,854.97. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in INFO. Victory Capital Management Inc. purchased a new stake in Markit during the third quarter worth approximately $145,000. Integrated Investment Consultants LLC purchased a new stake in Markit during the third quarter worth approximately $237,000. BNP Paribas Arbitrage SA purchased a new stake in Markit during the third quarter worth approximately $551,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Markit during the third quarter worth approximately $1,161,000. Finally, Stanley Laman Group Ltd. purchased a new stake in Markit during the third quarter worth approximately $1,163,000. Institutional investors own 41.55% of the company’s stock.
Shares of Markit (NASDAQ:INFO) opened at 34.75 on Wednesday. The stock has a market cap of $11.82 billion, a PE ratio of 21.09 and a beta of 0.95. Markit has a 52 week low of $26.01 and a 52 week high of $37.85. The stock has a 50 day moving average of $36.56 and a 200-day moving average of $35.22.
Markit (NASDAQ:INFO) last released its earnings results on Tuesday, September 27th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Markit had a net margin of 4.06% and a return on equity of 6.21%. The company had revenue of $724.60 million for the quarter, compared to analysts’ expectations of $557.90 million. During the same quarter last year, the business earned $0.36 EPS. The firm’s revenue was up 29.9% compared to the same quarter last year. Equities research analysts predict that Markit will post $1.75 earnings per share for the current fiscal year.
IHS Markit Ltd, formerly Markit Ltd., provides critical information, analytics and solutions for the industries and markets that drive economies worldwide. The Company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights.
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