Information Services Group, Inc. (NASDAQ:III – Get Free Report) 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 – Get Free Report) 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
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.
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