Zacks Investment Research downgraded shares of Information Services Group, Inc. (NASDAQ:III) from a buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “INFORMATION SERVICES GROUP, INC. was founded to build an industry-leading, high-growth, information-based services company by acquiring and growing businesses in advisory, data, business and media information services. ISG’s first acquisition – TPI, the world’s leading data and advisory firm in global sourcing – provides a solid platform upon which to build a prominent, high-growth information-based services company. Based in Stamford, Connecticut, ISG has a proven leadership team with global experience in information-based services and a track record of creating significant value for shareowners, clients and employees. ISG’s strategy is to acquire and grow dynamic, innovative businesses that provide must have information-based services to such sectors as consumer products, retailing, financial services, manufacturing, media, marketing, healthcare, legal, government, telecommunications and technology. “
III has been the topic of several other reports. TheStreet downgraded Information Services Group from a c- rating to a d rating in a report on Friday, March 24th. Noble Financial reissued a buy rating on shares of Information Services Group in a report on Friday, June 9th. ValuEngine raised Information Services Group from a sell rating to a hold rating in a report on Saturday, June 3rd. Finally, B. Riley reissued a buy rating and issued a $6.50 target price on shares of Information Services Group in a report on Saturday, May 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Information Services Group has a consensus rating of Buy and a consensus target price of $5.67.
Shares of Information Services Group (III) traded up 0.72% during mid-day trading on Wednesday, hitting $4.18. The company had a trading volume of 23,325 shares. The firm’s 50 day moving average is $3.90 and its 200-day moving average is $3.47. Information Services Group has a 12-month low of $2.95 and a 12-month high of $4.32. The firm’s market cap is $179.94 million.
Information Services Group (NASDAQ:III) last announced its earnings results on Monday, May 8th. The business services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by $0.05. The business had revenue of $66.56 million during the quarter, compared to analyst estimates of $64.50 million. Information Services Group had a negative return on equity of 13.06% and a negative net margin of 2.75%. On average, equities analysts expect that Information Services Group will post $0.34 EPS for the current year.
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In other Information Services Group news, CEO Michael P. Connors bought 15,727 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was bought at an average price of $3.81 per share, for a total transaction of $59,919.87. Following the transaction, the chief executive officer now owns 4,153,830 shares of the company’s stock, valued at approximately $15,826,092.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Thomson Horstmann & Bryant Inc. increased its position in Information Services Group by 6.8% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 2,077,887 shares of the business services provider’s stock worth $6,545,000 after buying an additional 132,490 shares in the last quarter. Renaissance Technologies LLC increased its position in Information Services Group by 4.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,895,390 shares of the business services provider’s stock worth $6,899,000 after buying an additional 78,179 shares in the last quarter. Blair William & Co. IL increased its position in Information Services Group by 1.8% in the first quarter. Blair William & Co. IL now owns 1,294,629 shares of the business services provider’s stock worth $4,104,000 after buying an additional 23,050 shares in the last quarter. Weber Alan W increased its position in Information Services Group by 0.9% in the first quarter. Weber Alan W now owns 1,045,050 shares of the business services provider’s stock worth $3,292,000 after buying an additional 9,000 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in Information Services Group by 3.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 841,261 shares of the business services provider’s stock worth $2,650,000 after buying an additional 31,261 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.
About Information Services Group
Information Services Group, Inc is a technology insights, market intelligence and advisory services company. The Company operates in the segment of fact-based sourcing advisory services. It supports private and public sector organizations to transform and optimize their operational environments through research, benchmarking, consulting and managed services with a focus on information technology, business process transformation, program management services and enterprise resource planning.
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