Seven Eight Capital LP Has $1.94 Million Holdings in IHS Markit Ltd. (INFO)
Seven Eight Capital LP cut its position in shares of IHS Markit Ltd. (NASDAQ:INFO) by 48.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,935 shares of the business services provider’s stock after selling 41,600 shares during the quarter. Seven Eight Capital LP’s holdings in IHS Markit were worth $1,935,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new position in shares of IHS Markit in the 2nd quarter valued at about $120,000. Mutual of America Capital Management LLC increased its holdings in shares of IHS Markit by 20.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 4,175 shares of the business services provider’s stock valued at $175,000 after purchasing an additional 695 shares during the period. Global X Management Co. LLC increased its holdings in shares of IHS Markit by 60.3% in the 1st quarter. Global X Management Co. LLC now owns 4,265 shares of the business services provider’s stock valued at $179,000 after purchasing an additional 1,605 shares during the period. Riverhead Capital Management LLC acquired a new position in shares of IHS Markit in the 2nd quarter valued at about $198,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of IHS Markit in the 2nd quarter valued at about $207,000. 96.03% of the stock is owned by institutional investors.
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IHS Markit Ltd. (NASDAQ INFO) opened at 47.045 on Thursday. IHS Markit Ltd. has a 12-month low of $34.13 and a 12-month high of $48.49. The company has a 50-day moving average price of $46.50 and a 200-day moving average price of $44.36. The firm has a market cap of $18.80 billion, a P/E ratio of 86.959 and a beta of 0.88.
IHS Markit (NASDAQ:INFO) last released its quarterly earnings data on Tuesday, June 27th. The business services provider reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. The business had revenue of $906.10 million for 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, analysts predict that IHS Markit Ltd. will post $2.06 earnings per share for the current year.
In other IHS Markit news, Vice Chairman Daniel Yergin sold 43,657 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $44.17, for a total value of $1,928,329.69. Following the sale, the insider now owns 364,703 shares in the company, valued at approximately $16,108,931.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Gear sold 30,004 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $44.43, for a total value of $1,333,077.72. Following the completion of the sale, the executive vice president now owns 328,874 shares in the company, valued at approximately $14,611,871.82. The disclosure for this sale can be found here. Insiders have sold a total of 1,031,463 shares of company stock worth $48,308,385 in the last quarter.
A number of brokerages have recently weighed in on INFO. BMO Capital Markets upped their target price on IHS Markit from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, June 30th. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 target price (up previously from $40.00) on shares of IHS Markit in a report on Tuesday, July 18th. UBS AG reiterated a “neutral” rating and issued a $47.00 target price (up previously from $43.00) on shares of IHS Markit in a report on Friday, June 30th. Zacks Investment Research upgraded IHS Markit from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $50.00 target price (up previously from $48.00) on shares of IHS Markit in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $45.55.
IHS Markit 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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