Information Services Group, Inc. (NASDAQ:III - Get Free Report) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 165,600 shares, a growth of 23.3% from the November 30th total of 134,300 shares. Based on an average daily trading volume, of 95,700 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.5% of the shares of the company are short sold.
Insiders Place Their Bets
In other Information Services Group news, Director Kalpana Raina sold 15,075 shares of Information Services Group stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $3.35, for a total transaction of $50,501.25. Following the transaction, the director now owns 359,338 shares of the company's stock, valued at $1,203,782.30. The trade was a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 44,931 shares of company stock worth $150,425. Company insiders own 16.00% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. grew its holdings in Information Services Group by 107.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 566,444 shares of the business services provider's stock worth $1,665,000 after acquiring an additional 293,328 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Information Services Group during the second quarter valued at approximately $32,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Information Services Group by 9,259.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,621 shares of the business services provider's stock valued at $64,000 after acquiring an additional 21,390 shares during the period. Equitable Trust Co. lifted its stake in shares of Information Services Group by 4.5% during the 3rd quarter. Equitable Trust Co. now owns 173,472 shares of the business services provider's stock worth $572,000 after purchasing an additional 7,515 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in Information Services Group by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 119,408 shares of the business services provider's stock valued at $351,000 after purchasing an additional 3,345 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Barrington Research boosted their target price on Information Services Group from $3.50 to $3.75 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Singular Research upgraded Information Services Group from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Information Services Group from a "hold" rating to a "buy" rating in a research report on Monday, November 11th.
Check Out Our Latest Analysis on III
Information Services Group Stock Performance
Shares of NASDAQ III remained flat at $3.34 during trading hours on Tuesday. The stock had a trading volume of 228,358 shares, compared to its average volume of 103,143. The firm's 50 day moving average is $3.40 and its 200 day moving average is $3.29. Information Services Group has a 52-week low of $2.92 and a 52-week high of $4.82. The company has a market capitalization of $163.89 million, a PE ratio of -47.71, a price-to-earnings-growth ratio of 2.95 and a beta of 0.99. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.69.
Information Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.18 annualized dividend and a dividend yield of 5.39%. Information Services Group's dividend payout ratio (DPR) is presently -257.11%.
Information Services Group Company Profile
(
Get Free Report)
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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