Bank of America Corp DE Sells 1,364,557 Shares of IHS Holding Limited $IHS

Key Points

• Bank of America cut its IHS Holding stake by 96% in the first quarter, selling 1.36 million shares and retaining 57,386 shares valued at approximately $472,000.
• Other institutional investors, including Helikon Investments, Arrowstreet Capital, and Renaissance Technologies, increased their positions, while institutional investors collectively owned 17.54% of IHS stock.
• IHS has an average analyst rating of “Hold” with an $8.80 price target, while its latest quarterly results missed expectations on both earnings and revenue.

Bank of America Corp DE lessened its holdings in shares of IHS Holding Limited (NYSE:IHS - Free Report) by 96.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,386 shares of the business services provider's stock after selling 1,364,557 shares during the period. Bank of America Corp DE's holdings in IHS were worth $472,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Helikon Investments Ltd increased its stake in IHS by 81.2% in the 4th quarter. Helikon Investments Ltd now owns 8,780,288 shares of the business services provider's stock worth $65,501,000 after buying an additional 3,934,727 shares during the period. Gabelli Funds LLC purchased a new stake in IHS in the 1st quarter valued at about $3,517,000. OMERS ADMINISTRATION Corp purchased a new stake in IHS in the 1st quarter valued at about $4,129,000. Arrowstreet Capital Limited Partnership grew its stake in IHS by 42.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,586,145 shares of the business services provider's stock worth $21,284,000 after acquiring an additional 768,286 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in IHS by 61.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,258,100 shares of the business services provider's stock worth $18,584,000 after acquiring an additional 856,800 shares in the last quarter. Institutional investors own 17.54% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of IHS from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.80.

IHS Price Performance

NYSE:IHS opened at $8.48 on Wednesday. IHS Holding Limited has a 1-year low of $5.71 and a 1-year high of $8.95. The company has a 50-day moving average of $8.28 and a 200 day moving average of $8.24. The firm has a market cap of $2.87 billion, a PE ratio of 21.21 and a beta of 0.74.

IHS (NYSE:IHS - Get Free Report) last posted its earnings results on Monday, August 10th. The business services provider reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.16). IHS had a net margin of 8.17% and a negative return on equity of 832.09%. The business had revenue of $428.60 million for the quarter, compared to analysts' expectations of $442.72 million.

IHS Company Profile

IHS Inc develops source of information, insight and analytics in different areas of business. The Company's segments include Resources, Transportation and Consolidated Markets & Solutions. The Company's Resources segment includes its Energy and Chemicals product offerings. Its Transportation segment includes its Automotive; Maritime & Trade, and Aerospace, Defense & Security product offerings. Its Consolidated Markets & Solutions segment includes its Product Design; Technology, Media & Telecom, and Economics & Country Risk product offerings.

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