Trading Report: Today: Short Interest in Markit Ltd. (INFO) Decreases By 18.7%

Today: Short Interest in Markit Ltd. (INFO) Decreases By 18.7%

Markit Ltd. (NASDAQ:INFO) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 6,627,657 shares, a decrease of 18.7% from the October 31st total of 8,149,022 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 3,166,904 shares, the short-interest ratio is currently 2.1 days.

In other Markit news, Vice Chairman Daniel Yergin sold 50,528 shares of the company’s stock in a transaction on 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 directly owns 492,509 shares in the company, valued at $18,464,162.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather Matzke-Hamlin sold 10,080 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $36.82, for a total transaction of $371,145.60. Following the transaction, the insider now owns 81,877 shares of the company’s stock, valued at $3,014,711.14. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jackson Square Partners LLC purchased a new position in Markit during the third quarter valued at about $88,186,000. United Services Automobile Association purchased a new position in Markit during the third quarter valued at about $7,768,000. Emerald Acquisition Ltd. purchased a new position in Markit during the third quarter valued at about $62,381,000. Canada Pension Plan Investment Board purchased a new position in Markit during the third quarter valued at about $594,059,000. Finally, Ngam Advisors L.P. purchased a new position in Markit during the third quarter valued at about $1,923,000. 55.05% of the stock is owned by institutional investors and hedge funds.

Markit (NASDAQ:INFO) opened at 35.47 on Monday. Markit has a 52-week low of $26.01 and a 52-week high of $37.85. The firm has a market cap of $12.06 billion, a PE ratio of 21.52 and a beta of 0.95. The firm has a 50-day moving average of $36.25 and a 200-day moving average of $35.25.

Markit (NASDAQ:INFO) last released its quarterly earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The business earned $724.60 million during the quarter, compared to the consensus estimate of $557.90 million. Markit had a return on equity of 6.21% and a net margin of 4.06%. The business’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. Equities analysts anticipate that Markit will post $1.76 EPS for the current year.

A number of equities research analysts have recently issued reports on INFO shares. Zacks Investment Research raised shares of Markit from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Monday, September 26th. Piper Jaffray Cos. raised shares of Markit from a “neutral” rating to an “overweight” rating and set a $43.00 target price for the company in a report on Wednesday, August 17th. Barclays PLC raised shares of Markit from a “neutral” rating to an “outperform” rating in a report on Friday, September 16th. TheStreet raised shares of Markit from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Finally, Morgan Stanley set a $34.00 target price on shares of Markit and gave the stock a “sell” rating in a report on Wednesday, September 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $39.57.

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