Short Interest in Information Services Group, Inc. (NASDAQ:III) Declines By 14.2%

Information Services Group, Inc. (NASDAQ:III) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 275,400 shares, a decline of 14.2% from the August 15th total of 320,800 shares. Based on an average daily volume of 156,400 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.8% of the shares of the stock are short sold.

Information Services Group Stock Up 1.3 %

Shares of NASDAQ III traded up $0.06 during trading hours on Tuesday, hitting $4.54. The company had a trading volume of 126,947 shares, compared to its average volume of 139,816. The stock has a market capitalization of $220.46 million, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.81 and a beta of 0.86. Information Services Group has a 1-year low of $4.15 and a 1-year high of $5.87. The firm’s 50 day moving average is $5.07 and its 200-day moving average is $5.13. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.77.

Information Services Group (NASDAQ:III) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $74.61 million during the quarter, compared to the consensus estimate of $74.16 million. Information Services Group had a net margin of 5.29% and a return on equity of 18.84%. On average, analysts expect that Information Services Group will post 0.38 earnings per share for the current fiscal year.

Information Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $0.18 annualized dividend and a yield of 3.96%. Information Services Group’s dividend payout ratio is currently 56.25%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on III. Barrington Research reissued an “outperform” rating and issued a $7.00 price target on shares of Information Services Group in a research report on Monday, August 7th. StockNews.com raised Information Services Group from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Finally, Raymond James raised shares of Information Services Group from a “market perform” rating to an “outperform” rating in a report on Thursday, July 6th.

Insider Activity at Information Services Group

In other Information Services Group news, Vice Chairman Todd D. Lavieri sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $5.25, for a total transaction of $78,750.00. Following the sale, the insider now owns 886,721 shares in the company, valued at approximately $4,655,285.25. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Michael P. Connors sold 50,000 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the transaction, the chief executive officer now directly owns 5,497,242 shares of the company’s stock, valued at $27,486,210. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Todd D. Lavieri sold 15,000 shares of Information Services Group stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $5.25, for a total value of $78,750.00. Following the sale, the insider now owns 886,721 shares of the company’s stock, valued at $4,655,285.25. The disclosure for this sale can be found here. Insiders sold a total of 565,277 shares of company stock valued at $2,884,879 over the last ninety days. Insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in III. BNP Paribas Arbitrage SA raised its position in Information Services Group by 108,571.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,607 shares of the business services provider’s stock worth $51,000 after purchasing an additional 7,600 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Information Services Group in the fourth quarter valued at approximately $47,000. Citigroup Inc. acquired a new stake in Information Services Group during the 2nd quarter valued at approximately $56,000. Royal Bank of Canada raised its holdings in Information Services Group by 74.6% during the 1st quarter. Royal Bank of Canada now owns 10,697 shares of the business services provider’s stock worth $73,000 after purchasing an additional 4,570 shares during the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Information Services Group in the 1st quarter worth approximately $73,000. Institutional investors own 73.92% of the company’s stock.

About Information Services Group

Information Services Group, Inc, together with its subsidiaries, operates as a technology research and advisory company in the Americas, Europe, and the Asia Pacific. The company offers digital transformation services, including automation, cloud, and data analytics; sourcing advisory; managed governance and risk; network carrier; technology strategy and operations design; change management; and market intelligence and technology research and analysis services.