Information Services Group (NASDAQ:III) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Shares of Information Services Group, Inc. (NASDAQ:III) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $3.38 and traded as high as $3.40. Information Services Group shares last traded at $3.33, with a volume of 80,505 shares trading hands.

Wall Street Analyst Weigh In

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

Information Services Group Price Performance

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market cap of $164.39 million, a price-to-earnings ratio of -47.85, a PEG ratio of 3.06 and a beta of 0.99. The company has a 50-day simple moving average of $3.38 and a 200-day simple moving average of $3.29.

Information Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Tuesday, December 3rd. Information Services Group’s dividend payout ratio (DPR) is -257.14%.

Insider Buying and Selling at Information Services Group

In other Information Services Group news, Director Kalpana Raina sold 18,795 shares of Information Services Group stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $3.39, for a total value of $63,715.05. Following the completion of the transaction, the director now owns 396,261 shares of the company’s stock, valued at $1,343,324.79. The trade was a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 44,931 shares of company stock worth $150,425 in the last quarter. 16.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Information Services Group

A number of large investors have recently made changes to their positions in III. Brown Brothers Harriman & Co. raised its holdings in Information Services Group by 107.4% in 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 during the period. Arkadios Wealth Advisors acquired a new stake in shares of Information Services Group in the second quarter valued at $32,000. Allspring Global Investments Holdings LLC raised its stake in shares of Information Services Group by 9,259.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 21,621 shares of the business services provider’s stock worth $64,000 after acquiring an additional 21,390 shares during the last quarter. Equitable Trust Co. boosted its position in Information Services Group by 4.5% in the 3rd quarter. Equitable Trust Co. now owns 173,472 shares of the business services provider’s stock valued at $572,000 after buying an additional 7,515 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its position in Information Services Group by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 119,408 shares of the business services provider’s stock worth $351,000 after purchasing an additional 3,345 shares during the period. Institutional investors and hedge funds own 73.10% 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.