Markit Ltd. (INFO) Trading Down 1.7% Following Insider Selling
Markit Ltd. (NASDAQ:INFO) shares traded down 1.7% on Wednesday following insider selling activity. The company traded as low as $36.32 and last traded at $36.36, with a volume of 1,088,816 shares changing hands. The stock had previously closed at $37.00.
Specifically, Vice Chairman Daniel Yergin sold 50,528 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jane L. Okun Bomba sold 50,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $37.60, for a total transaction of $1,880,000.00. Following the transaction, the executive vice president now directly owns 295,426 shares of the company’s stock, valued at approximately $11,108,017.60. The disclosure for this sale can be found here.
A number of brokerages have recently commented on INFO. William Blair reaffirmed an “outperform” rating on shares of Markit in a research report on Sunday, July 17th. Deutsche Bank AG raised shares of Markit to a “buy” rating in a research report on Sunday, July 17th. Barclays PLC upped their price objective on shares of Markit from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, July 25th. Zacks Investment Research raised shares of Markit from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Markit in a research report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.08.
The company’s 50 day moving average is $36.82 and its 200-day moving average is $34.86. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 56.84 and a beta of 0.94.
Markit (NASDAQ:INFO) last posted its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company earned $724.60 million during the quarter, compared to analysts’ expectations of $557.90 million. Markit had a net margin of 4.06% and a return on equity of 10.66%. Markit’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. Equities analysts anticipate that Markit Ltd. will post $1.75 EPS for the current fiscal year.
A hedge fund recently bought a new stake in Markit stock. BNP Paribas Arbitrage SA bought a new position in Markit Ltd. (NASDAQ:INFO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,670 shares of the company’s stock, valued at approximately $551,000. Institutional investors own 54.26% of the company’s stock.
Markit Ltd. is a global diversified provider of financial information services. The Company provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. The Company’s business is organized in three segments: Information, Processing and Solutions.
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