Short Interest in Markit Ltd. (INFO) Decreases By 18.7%
Markit Ltd. (NASDAQ:INFO) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 6,627,657 shares, a decrease of 18.7% from the October 31st total of 8,149,022 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 3,166,904 shares, the short-interest ratio is currently 2.1 days.
Markit (NASDAQ:INFO) opened at 35.47 on Monday. The stock has a market capitalization of $12.06 billion, a PE ratio of 21.52 and a beta of 0.95. Markit has a 1-year low of $26.01 and a 1-year high of $37.85. The company’s 50-day moving average is $36.25 and its 200 day moving average is $35.25.
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 company 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 6.21%. Markit’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. Equities analysts predict that Markit will post $1.76 earnings per share for the current year.
INFO has been the topic of a number of research analyst reports. TheStreet upgraded shares of Markit from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. Piper Jaffray Cos. upgraded shares of Markit from a “neutral” rating to an “overweight” rating and set a $43.00 price objective on the stock in a research report on Wednesday, August 17th. Cantor Fitzgerald restated a “hold” rating on shares of Markit in a research report on Friday, August 19th. Macquarie initiated coverage on shares of Markit in a research report on Thursday, August 25th. They set a “neutral” rating and a $39.00 price objective on the stock. Finally, BMO Capital Markets increased their price objective on shares of Markit from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. 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 stock has a consensus rating of “Hold” and a consensus price target of $39.57.
In other news, insider Heather Matzke-Hamlin sold 10,080 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $36.82, for a total value of $371,145.60. Following the transaction, the insider now owns 81,877 shares in the company, valued at $3,014,711.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Daniel Yergin sold 50,528 shares of the 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 transaction, the insider now owns 492,509 shares in the company, valued at approximately $18,464,162.41. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in shares of Markit during the third quarter valued at approximately $594,059,000. Jackson Square Partners LLC acquired a new stake in shares of Markit during the third quarter valued at approximately $88,186,000. Emerald Acquisition Ltd. acquired a new stake in shares of Markit during the third quarter valued at approximately $62,381,000. Mountain Pacific Investment Advisers Inc. ID acquired a new stake in shares of Markit during the third quarter valued at approximately $16,136,000. Finally, United Services Automobile Association acquired a new stake in shares of Markit during the third quarter valued at approximately $7,768,000. 55.05% of the stock is currently owned by institutional investors.
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Markit Company Profile
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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