Information Services Group, Inc. (NASDAQ:III – Get Free Report) was the recipient of a significant decline in short interest in the month of 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 trading volume, of 156,400 shares, the short-interest ratio is currently 1.8 days. Approximately 0.8% of the company’s shares are sold short.
Information Services Group Trading Up 1.3 %
Shares of NASDAQ:III traded up $0.06 during trading 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 cap of $220.46 million, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.81 and a beta of 0.86. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.86 and a quick ratio of 2.86. The company has a fifty day simple moving average of $5.07 and a two-hundred day simple moving average of $5.13. Information Services Group has a one year low of $4.15 and a one year high of $5.87.
Information Services Group (NASDAQ:III – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Information Services Group had a return on equity of 18.84% and a net margin of 5.29%. The firm had revenue of $74.61 million during the quarter, compared to the consensus estimate of $74.16 million. As a group, equities analysts forecast that Information Services Group will post 0.38 earnings per share for the current year.
Information Services Group Announces Dividend
Insider Transactions at Information Services Group
In related news, Vice Chairman Todd D. Lavieri sold 10,000 shares of Information Services Group stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $5.21, for a total value of $52,100.00. Following the transaction, the insider now directly owns 951,721 shares of the company’s stock, valued at $4,958,466.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Michael P. Connors sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $5.48, for a total value of $274,000.00. Following the completion of the transaction, the chief executive officer now owns 5,747,242 shares in the company, valued at approximately $31,494,886.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Todd D. Lavieri sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $5.21, for a total transaction of $52,100.00. Following the completion of the sale, the insider now directly owns 951,721 shares in the company, valued at $4,958,466.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 565,277 shares of company stock worth $2,884,879. Company insiders own 16.50% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in III. Wells Fargo & Company MN increased its holdings in shares of Information Services Group by 104.1% in the 2nd quarter. Wells Fargo & Company MN now owns 14,858 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 7,577 shares during the period. Goldman Sachs Group Inc. raised its holdings in Information Services Group by 8.9% in the second quarter. Goldman Sachs Group Inc. now owns 111,326 shares of the business services provider’s stock worth $597,000 after purchasing an additional 9,056 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Information Services Group by 875.0% during the second quarter. Captrust Financial Advisors now owns 272,353 shares of the business services provider’s stock valued at $1,460,000 after buying an additional 244,418 shares during the last quarter. Private Capital Management LLC boosted its holdings in shares of Information Services Group by 6.2% in the 2nd quarter. Private Capital Management LLC now owns 4,958,124 shares of the business services provider’s stock valued at $26,576,000 after buying an additional 290,301 shares in the last quarter. Finally, Perritt Capital Management Inc. grew its position in shares of Information Services Group by 3.0% in the 2nd quarter. Perritt Capital Management Inc. now owns 170,567 shares of the business services provider’s stock worth $914,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 73.92% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on III. Raymond James upgraded Information Services Group from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 6th. StockNews.com upgraded shares of Information Services Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Finally, Barrington Research restated an “outperform” rating and set a $7.00 target price on shares of Information Services Group in a research report on Monday, August 7th.
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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