Allen Investment Management LLC Has $4.72 Million Stake in IHS Markit Ltd. (INFO)
Allen Investment Management LLC increased its stake in IHS Markit Ltd. (NASDAQ:INFO) by 54.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,180 shares of the business services provider’s stock after buying an additional 37,995 shares during the period. Allen Investment Management LLC’s holdings in IHS Markit were worth $4,720,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in IHS Markit during the first quarter valued at approximately $373,000. Candriam Luxembourg S.C.A. bought a new stake in IHS Markit during the first quarter valued at approximately $1,170,000. Korea Investment CORP raised its stake in IHS Markit by 884.0% in the first quarter. Korea Investment CORP now owns 4,182 shares of the business services provider’s stock valued at $175,000 after buying an additional 3,757 shares during the period. Russell Investments Group Ltd. raised its stake in IHS Markit by 50.8% in the first quarter. Russell Investments Group Ltd. now owns 1,139,934 shares of the business services provider’s stock valued at $47,830,000 after buying an additional 384,215 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in IHS Markit by 7.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,518 shares of the business services provider’s stock valued at $1,112,000 after buying an additional 1,731 shares during the period.
Shares of IHS Markit Ltd. (INFO) opened at 46.62 on Tuesday. IHS Markit Ltd. has a 52 week low of $34.13 and a 52 week high of $47.92. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 86.17 and a beta of 0.88. The firm has a 50-day moving average price of $45.74 and a 200-day moving average price of $43.73.
IHS Markit (NASDAQ:INFO) last announced its quarterly earnings data on Tuesday, June 27th. The business services provider reported $0.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. IHS Markit had a net margin of 6.66% and a return on equity of 7.33%. The firm had revenue of $906.10 million during the quarter, compared to analysts’ expectations of $897.80 million. The business’s revenue for the quarter was up 54.1% compared to the same quarter last year. On average, equities analysts anticipate that IHS Markit Ltd. will post $2.06 earnings per share for the current year.
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INFO has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $52.00 price objective (up from $50.00) on shares of IHS Markit in a research note on Friday, June 16th. Royal Bank Of Canada restated an “outperform” rating and issued a $50.00 price objective (up from $48.00) on shares of IHS Markit in a research note on Wednesday, June 28th. Zacks Investment Research lowered IHS Markit from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. UBS AG restated a “neutral” rating and issued a $47.00 price objective (up from $43.00) on shares of IHS Markit in a research note on Friday, June 30th. Finally, BMO Capital Markets upped their price objective on IHS Markit from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. IHS Markit has a consensus rating of “Hold” and a consensus price target of $45.55.
In other IHS Markit news, EVP Jonathan Gear sold 30,004 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $44.43, for a total transaction of $1,333,077.72. Following the completion of the transaction, the executive vice president now directly owns 328,874 shares in the company, valued at approximately $14,611,871.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Daniel Yergin sold 43,657 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $44.17, for a total transaction of $1,928,329.69. Following the transaction, the insider now owns 364,703 shares of the company’s stock, valued at $16,108,931.51. The disclosure for this sale can be found here. Insiders sold 1,031,463 shares of company stock valued at $48,308,385 in the last quarter.
About IHS Markit
IHS Markit Ltd., formerly Markit Ltd., is a provider of critical information and analytics for the major industries, financial markets and governments. The Company operates through four segments: Resources, Transportation, Consolidated Markets & Solutions (CMS) and Financial Services. The Resources segment includes its energy and chemicals product offerings.
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