Engineers Gate Manager LP Cuts Holdings in IHS Holding Limited $IHS

Engineers Gate Manager LP reduced its holdings in IHS Holding Limited (NYSE:IHS) by 33.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,417 shares of the business services provider’s stock after selling 121,986 shares during the quarter. Engineers Gate Manager LP’s holdings in IHS were worth $1,981,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. PSquared Asset Management AG acquired a new position in IHS during the first quarter worth $35,749,000. Hsbc Holdings PLC purchased a new position in IHS in the first quarter worth $33,532,000. Renaissance Technologies LLC lifted its holdings 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 period. Arrowstreet Capital Limited Partnership lifted its holdings in IHS by 42.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,586,145 shares of the business services provider’s stock valued at $21,284,000 after acquiring an additional 768,286 shares during the period. Finally, Groupe la Francaise purchased a new stake in shares of IHS during the 1st quarter worth $5,101,000. 17.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of IHS from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 8th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.80.

IHS Trading Up 0.2%

IHS stock opened at $8.46 on Wednesday. The firm has a 50 day moving average of $8.31 and a 200-day moving average of $8.26. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 21.14 and a beta of 0.74. IHS Holding Limited has a 12-month low of $5.71 and a 12-month high of $8.95.

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

About IHS

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.