S&P Global Inc. (NYSE:SPGI) Sees Large Drop in Short Interest

S&P Global Inc. (NYSE:SPGI) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 3,320,000 shares, a drop of 19.2% from the November 30th total of 4,110,000 shares. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is presently 2.8 days.

Institutional Trading of S&P Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. First National Corp MA ADV boosted its holdings in shares of S&P Global by 0.9% in the third quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock valued at $1,211,000 after acquiring an additional 20 shares during the period. Kathleen S. Wright Associates Inc. increased its position in S&P Global by 25.0% during the third quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock worth $51,000 after buying an additional 20 shares in the last quarter. Trust Point Inc. lifted its stake in shares of S&P Global by 1.4% during the third quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after buying an additional 20 shares during the period. Headinvest LLC grew its holdings in S&P Global by 2.0% in the 3rd quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock valued at $515,000 after buying an additional 20 shares during the period. Finally, EWA LLC raised its position in shares of S&P Global by 4.2% in the 3rd quarter. EWA LLC now owns 498 shares of the business services provider’s stock worth $254,000 after buying an additional 20 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Trading Down 0.8 %

Shares of S&P Global stock traded down $3.78 during mid-day trading on Monday, hitting $498.02. The stock had a trading volume of 794,286 shares, compared to its average volume of 1,211,437. The firm has a 50-day moving average of $504.26 and a two-hundred day moving average of $496.42. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The firm has a market cap of $154.54 billion, a P/E ratio of 43.96, a price-to-earnings-growth ratio of 2.53 and a beta of 1.19. S&P Global has a 12-month low of $407.69 and a 12-month high of $533.29.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period last year, the business posted $3.21 EPS. S&P Global’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts forecast that S&P Global will post 15.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPGI has been the topic of a number of analyst reports. Oppenheimer raised their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Evercore ISI initiated coverage on S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective on the stock. UBS Group boosted their price objective on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company increased their target price on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus boosted their price target on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $575.14.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.