Information Services Group, Inc. (NASDAQ:III) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 219,500 shares, an increase of 8.0% from the May 30th total of 203,200 shares. Based on an average trading volume of 85,900 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.7% of the company’s stock are sold short.
Shares of NASDAQ:III opened at $2.70 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.25 and a quick ratio of 2.25. Information Services Group has a 1 year low of $2.65 and a 1 year high of $5.45. The stock has a fifty day simple moving average of $3.09. The company has a market capitalization of $137.12 million, a PE ratio of 12.27, a PEG ratio of 1.24 and a beta of 0.47.
Information Services Group (NASDAQ:III) last announced its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.01) EPS for the quarter. The company had revenue of $64.79 million for the quarter, compared to analyst estimates of $66.40 million. Information Services Group had a net margin of 1.70% and a return on equity of 11.69%. On average, equities analysts anticipate that Information Services Group will post 0.16 earnings per share for the current year.
In other news, Vice Chairman Todd D. Lavieri sold 18,654 shares of Information Services Group stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $2.98, for a total transaction of $55,588.92. Following the sale, the insider now directly owns 584,630 shares of the company’s stock, valued at $1,742,197.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David E. Berger sold 18,869 shares of Information Services Group stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $3.06, for a total value of $57,739.14. Following the sale, the chief financial officer now directly owns 726,461 shares in the company, valued at $2,222,970.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,306 shares of company stock worth $244,037. Corporate insiders own 13.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Prudential Financial Inc. acquired a new position in Information Services Group in the fourth quarter worth about $49,000. BNP Paribas Arbitrage SA raised its position in Information Services Group by 5,644.4% in the first quarter. BNP Paribas Arbitrage SA now owns 7,238 shares of the business services provider’s stock worth $27,000 after purchasing an additional 7,112 shares in the last quarter. Globeflex Capital L P bought a new stake in Information Services Group during the fourth quarter worth about $75,000. Rhumbline Advisers grew its stake in Information Services Group by 47.4% during the fourth quarter. Rhumbline Advisers now owns 46,159 shares of the business services provider’s stock worth $196,000 after buying an additional 14,846 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Information Services Group by 1.2% during the fourth quarter. BlackRock Inc. now owns 1,746,039 shares of the business services provider’s stock worth $7,403,000 after buying an additional 21,527 shares during the last quarter. 45.80% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on III. CIBC restated a “hold” rating and issued a $3.00 target price on shares of Information Services Group in a research note on Thursday, May 16th. ValuEngine downgraded WideOpenWest from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.75.
About Information Services Group
Information Services Group, Inc engages in the provision of sourcing advisory services. It operaets through the following geographical segments: Americas, Europe, and Asia Pacific. The firm offers business advisory, human resources technology and delivery services, organizational change management and software advisory services to the aerospace, defence, automotive, banking, energy, healthcare and insurance industries.
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