Information Services Group (NASDAQ:III) Shares Pass Above 50 Day Moving Average - Here's Why

Information Services Group, Inc. (NASDAQ:III - Get Free Report)'s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.34 and traded as high as $3.70. Information Services Group shares last traded at $3.63, with a volume of 68,787 shares changing hands.

Wall Street Analysts Forecast Growth

III has been the topic of a number of research analyst reports. Barrington Research upped their target price on Information Services Group from $3.50 to $3.75 and gave the stock an "outperform" rating in a report on Monday, November 11th. StockNews.com upgraded Information Services Group from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Finally, Singular Research upgraded shares of Information Services Group from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, November 14th.

Information Services Group Trading Down 0.8 %

The stock's fifty day simple moving average is $3.35 and its two-hundred day simple moving average is $3.27. The firm has a market cap of $178.12 million, a PE ratio of -51.85, a PEG ratio of 3.06 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 3rd will be paid a $0.045 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.18 annualized dividend and a dividend yield of 4.96%. Information Services Group's payout ratio is currently -257.11%.

Insider Buying and Selling at Information Services Group

In other news, Director Kalpana Raina sold 15,075 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $3.35, for a total value of $50,501.25. Following the transaction, the director now owns 359,338 shares in the company, valued at approximately $1,203,782.30. This represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 44,931 shares of company stock worth $150,425. 16.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Information Services Group

A number of hedge funds have recently added to or reduced their stakes in III. Vanguard Group Inc. grew its stake in shares of Information Services Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,168,197 shares of the business services provider's stock worth $8,760,000 after acquiring an additional 15,028 shares during the period. Blair William & Co. IL boosted its holdings in Information Services Group by 1.4% in the second quarter. Blair William & Co. IL now owns 824,499 shares of the business services provider's stock worth $2,424,000 after purchasing an additional 11,056 shares during the last quarter. Geode Capital Management LLC grew its position in Information Services Group by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 820,929 shares of the business services provider's stock worth $2,709,000 after purchasing an additional 70,135 shares during the period. State Street Corp raised its stake in Information Services Group by 3.2% during the 3rd quarter. State Street Corp now owns 578,220 shares of the business services provider's stock valued at $1,934,000 after buying an additional 17,796 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of 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 valued at $1,665,000 after buying an additional 293,328 shares during the period. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

Information Services Group Company Profile

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.