Groupe la Francaise Buys 297,298 Shares of IHS Holding Limited $IHS

Key Points

• Groupe la Francaise increased its IHS Holding stake by 48% in the second quarter, acquiring 297,298 additional shares for a total holding of 917,096 shares valued at approximately $7.56 million.
• IHS shares opened at $8.48, near their 50-day and 200-day moving averages, with a one-year trading range of $5.71 to $8.95. Institutional investors own 17.54% of the company.
• IHS missed quarterly earnings and revenue estimates, reporting a loss of $0.04 per share and revenue of $428.6 million. Analyst sentiment remains “Hold,” while Weiss Ratings downgraded the stock to “Sell.”

Groupe la Francaise increased its stake in shares of IHS Holding Limited (NYSE:IHS - Free Report) by 48.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 917,096 shares of the business services provider's stock after acquiring an additional 297,298 shares during the period. Groupe la Francaise owned about 0.27% of IHS worth $7,557,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Mcguire Capital Advisors Inc. acquired a new position in IHS in the 4th quarter worth $27,000. Smartleaf Asset Management LLC acquired a new stake in shares of IHS in the 4th quarter valued at about $30,000. Quarry LP raised its stake in shares of IHS by 545.3% in the 3rd quarter. Quarry LP now owns 4,704 shares of the business services provider's stock valued at $32,000 after purchasing an additional 3,975 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of IHS in the 2nd quarter valued at about $72,000. Finally, NewEdge Advisors LLC bought a new stake in shares of IHS in the second quarter valued at about $85,000. 17.54% of the stock is owned by institutional investors.

IHS Price Performance

Shares of NYSE:IHS opened at $8.48 on Tuesday. The company's 50-day moving average price is $8.28 and its two-hundred day moving average price is $8.24. IHS Holding Limited has a one year low of $5.71 and a one year high of $8.95. The stock has a market capitalization of $2.87 billion, a PE ratio of 21.20 and a beta of 0.74.

IHS (NYSE:IHS - Get Free Report) last announced its quarterly earnings data 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). IHS had a net margin of 8.17% and a negative return on equity of 832.09%. The company had revenue of $428.60 million during the quarter, compared to the consensus estimate of $442.72 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut IHS from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, IHS has an average rating of "Hold" and a consensus price target of $8.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.