Renaissance Technologies LLC Increases Stock Holdings in IHS Holding Limited $IHS

Key Points

• Renaissance Technologies increased its IHS Holding stake by 61.1% in the first quarter, bringing its holdings to 2.26 million shares valued at approximately $18.6 million. Other institutional investors also adjusted their positions, with institutions collectively owning 17.54% of the stock.
• Analyst sentiment remains cautious: IHS has a consensus rating of “Hold” from eight analysts, with a consensus price target of $8.38. Weiss Ratings separately upgraded the stock from “sell” to “hold.”
• IHS reported quarterly EPS of $0.20, below the $0.32 consensus estimate, while revenue of $415.4 million also missed expectations of $439.2 million. Shares recently opened at $8.21, near their 50-day and 200-day moving averages.

Renaissance Technologies LLC boosted its holdings in IHS Holding Limited (NYSE:IHS - Free Report) by 61.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,258,100 shares of the business services provider's stock after purchasing an additional 856,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.67% of IHS worth $18,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Helikon Investments Ltd boosted 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 last quarter. Quaker Capital Investments LLC lifted its holdings in shares of IHS by 7.2% during the 4th quarter. Quaker Capital Investments LLC now owns 4,683,904 shares of the business services provider's stock worth $34,942,000 after acquiring an additional 314,501 shares during the period. PSquared Asset Management AG purchased a new position in shares of IHS during the 1st quarter worth about $35,749,000. Hsbc Holdings PLC acquired a new stake in shares of IHS in the first quarter worth approximately $33,532,000. Finally, JPMorgan Chase & Co. boosted its position in shares of IHS by 0.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,321,835 shares of the business services provider's stock worth $24,781,000 after acquiring an additional 21,468 shares during the last quarter. 17.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of IHS from a "sell (d+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.38.

IHS Price Performance

IHS stock opened at $8.21 on Friday. The stock's 50-day moving average is $8.25 and its 200-day moving average is $8.17. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 15.48 and a beta of 0.73. 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 earnings results on Monday, May 11th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.12). The firm had revenue of $415.40 million for the quarter, compared to analysts' expectations of $439.16 million. IHS had a negative return on equity of 1,351.44% and a net margin of 10.74%.

IHS 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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