IHS Markit Ltd. (INFO) Short Interest Update
IHS Markit Ltd. (NASDAQ:INFO) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 15,447,534 shares, a growth of 18.5% from the August 15th total of 13,040,316 shares. Based on an average trading volume of 2,086,228 shares, the days-to-cover ratio is presently 7.4 days. Approximately 4.1% of the shares of the stock are sold short.
In related news, President Lance Darrell Gordon Uggla sold 845,640 shares of IHS Markit stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total value of $39,745,080.00. Following the transaction, the president now directly owns 1,177,904 shares of the company’s stock, valued at $55,361,488. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Gear sold 30,004 shares of IHS Markit stock in a transaction that occurred on 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 $14,611,871.82. The disclosure for this sale can be found here. Insiders sold 1,031,463 shares of company stock worth $48,308,385 over the last three months.
Several large investors have recently modified their holdings of INFO. APG Asset Management N.V. bought a new position in shares of IHS Markit in the 1st quarter worth $579,000. State Board of Administration of Florida Retirement System increased its holdings in shares of IHS Markit by 10.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 31,460 shares of the business services provider’s stock worth $1,320,000 after buying an additional 3,000 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of IHS Markit by 10.6% in the 1st quarter. First Trust Advisors LP now owns 276,430 shares of the business services provider’s stock worth $11,596,000 after buying an additional 26,492 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of IHS Markit by 161.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 40,639 shares of the business services provider’s stock worth $1,705,000 after buying an additional 25,084 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of IHS Markit by 15.4% in the 1st quarter. Comerica Bank now owns 92,815 shares of the business services provider’s stock worth $4,057,000 after buying an additional 12,400 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the stock. 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. Zacks Investment Research raised shares of IHS Markit from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Royal Bank Of Canada reissued 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. Morgan Stanley reissued an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of IHS Markit in a research note on Tuesday, July 18th. Finally, BMO Capital Markets lifted their price objective on shares of IHS Markit from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.00.
Shares of IHS Markit (INFO) opened at 47.53 on Tuesday. IHS Markit has a 1-year low of $34.13 and a 1-year high of $48.49. The company has a market cap of $19.00 billion, a PE ratio of 87.86 and a beta of 0.88. The firm’s 50 day moving average is $46.65 and its 200-day moving average is $44.56.
IHS Markit (NASDAQ:INFO) last issued its quarterly earnings results on Tuesday, June 27th. The business services provider reported $0.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.52. The firm had revenue of $906.10 million for the quarter, compared to analyst estimates of $897.80 million. IHS Markit had a net margin of 6.66% and a return on equity of 7.33%. The company’s revenue was up 54.1% compared to the same quarter last year. Equities analysts expect that IHS Markit will post $2.06 earnings per share for the current year.
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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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