IHS Markit Ltd. (INFO) Sees Significant Drop in Short Interest
IHS Markit Ltd. (NASDAQ:INFO) was the recipient of a large decline in short interest in August. As of August 15th, there was short interest totalling 13,040,316 shares, a decline of 11.3% from the July 31st total of 14,706,941 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average trading volume of 1,863,156 shares, the short-interest ratio is presently 7.0 days.
INFO has been the topic of a number of research reports. Morgan Stanley restated an “underweight” rating and set a $41.00 price objective (up previously from $40.00) on shares of IHS Markit in a research report on Tuesday, July 18th. Deutsche Bank AG reissued 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. BMO Capital Markets boosted their price objective on IHS Markit from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, June 30th. Zacks Investment Research downgraded IHS Markit from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $50.00 price target (up from $48.00) on shares of IHS Markit in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. IHS Markit presently has an average rating of “Hold” and an average target price of $45.55.
In other news, EVP Jonathan Gear sold 30,004 shares of the business’s stock in a transaction on Friday, July 14th. The stock was 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 owns 328,874 shares of the company’s stock, valued at approximately $14,611,871.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Lance Darrell Gordon Uggla sold 112,162 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $47.27, for a total value of $5,301,897.74. Following the transaction, the president now directly owns 461,344 shares of the company’s stock, valued at approximately $21,807,730.88. The disclosure for this sale can be found here. Insiders sold a total of 1,031,463 shares of company stock valued at $48,308,385 over the last ninety days.
A number of hedge funds and other institutional investors have recently bought and sold shares of INFO. First Trust Advisors LP boosted its position in shares of IHS Markit by 10.6% in the first quarter. First Trust Advisors LP now owns 276,430 shares of the business services provider’s stock valued at $11,596,000 after buying an additional 26,492 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in IHS Markit by 10.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 31,460 shares of the business services provider’s stock valued at $1,320,000 after buying an additional 3,000 shares during the period. APG Asset Management N.V. acquired a new stake in IHS Markit during the first quarter valued at approximately $579,000. Geneva Advisors LLC acquired a new stake in IHS Markit during the first quarter valued at approximately $39,724,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in IHS Markit by 0.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,344 shares of the business services provider’s stock valued at $2,238,000 after buying an additional 403 shares during the period.
IHS Markit (INFO) opened at 46.40 on Wednesday. The stock’s 50 day moving average price is $45.74 and its 200-day moving average price is $43.73. IHS Markit has a 52 week low of $34.13 and a 52 week high of $47.92. The company has a market capitalization of $18.55 billion, a PE ratio of 85.77 and a beta of 0.88.
IHS Markit (NASDAQ:INFO) last announced its earnings results on Tuesday, June 27th. The business services provider reported $0.52 earnings per share for the quarter, hitting the 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 for the quarter, compared to the consensus estimate of $897.80 million. The firm’s revenue was up 54.1% on a year-over-year basis. On average, equities research analysts predict that IHS Markit will post $2.06 earnings per share for the current fiscal year.
IHS Markit Company Profile
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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