Engineers Gate Manager LP Decreases Position in IHS Holding Limited $IHS

Key Points

• Engineers Gate Manager LP cut its IHS Holding stake by 33.7% in the second quarter, selling 121,986 shares and retaining 240,417 shares worth approximately $1.98 million.
• Other institutional investors, including Arrowstreet Capital and Renaissance Technologies, increased their positions, while hedge funds and other institutions collectively own 17.54% of IHS.
• IHS shares opened at $8.46, near their 12-month high, but the company’s latest quarterly results missed expectations on both earnings and revenue. Analysts maintain a consensus “Hold” rating with an average price target of $8.80.

Engineers Gate Manager LP trimmed its holdings in IHS Holding Limited (NYSE:IHS - Free Report) by 33.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,417 shares of the business services provider's stock after selling 121,986 shares during the quarter. Engineers Gate Manager LP owned about 0.07% of IHS worth $1,981,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. PSquared Asset Management AG purchased a new stake in shares of IHS during the 1st quarter worth approximately $35,749,000. Hsbc Holdings PLC purchased a new position in shares of IHS in the 1st quarter valued at $33,532,000. Arrowstreet Capital Limited Partnership raised its stake in IHS by 42.3% during 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. BNP Paribas Financial Markets raised its stake in IHS by 1.7% during the 4th quarter. BNP Paribas Financial Markets now owns 2,540,472 shares of the business services provider's stock worth $18,952,000 after acquiring an additional 42,374 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in IHS by 61.1% in the first quarter. Renaissance Technologies LLC now owns 2,258,100 shares of the business services provider's stock valued at $18,584,000 after acquiring an additional 856,800 shares during the last quarter. 17.54% of the stock is currently owned by hedge funds and other institutional investors.

IHS Price Performance

IHS stock opened at $8.46 on Wednesday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 21.14 and a beta of 0.74. The company has a fifty day moving average price of $8.31 and a 200 day moving average price of $8.26. IHS Holding Limited has a 12 month low of $5.71 and a 12 month high of $8.95.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of IHS from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.80.

IHS Company Profile

IHS Holding Limited, operating as IHS Towers NYSE: IHS, is a multinational telecommunications infrastructure company that owns, develops and manages shared communications infrastructure. Its primary assets are wireless telecommunications towers and related sites, which mobile network operators and other communications providers use to expand and maintain their networks.

The company provides tower leasing, colocation and infrastructure services, allowing multiple wireless operators to share the same sites.

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