The Hackett Group, Inc. (NASDAQ:HCKT) Sees Significant Increase in Short Interest

The Hackett Group, Inc. (NASDAQ:HCKT) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 234,600 shares, an increase of 5.8% from the December 15th total of 221,800 shares. Based on an average trading volume of 97,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.0% of the shares of the stock are sold short.

The Hackett Group Stock Performance

The Hackett Group stock opened at $30.17 on Monday. The firm has a fifty day simple moving average of $30.94 and a two-hundred day simple moving average of $27.38. The Hackett Group has a twelve month low of $20.23 and a twelve month high of $32.83. The company has a market capitalization of $832.39 million, a PE ratio of 24.73, a P/E/G ratio of 1.45 and a beta of 0.99. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18.

The Hackett Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, December 20th. The Hackett Group’s dividend payout ratio is presently 36.07%.

Analysts Set New Price Targets

Several research firms recently weighed in on HCKT. Roth Mkm upped their price objective on shares of The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barrington Research reaffirmed an “outperform” rating and set a $28.00 price objective on shares of The Hackett Group in a report on Tuesday, November 5th. Finally, Craig Hallum raised their price target on The Hackett Group from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.00.

Hedge Funds Weigh In On The Hackett Group

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in The Hackett Group by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,053,446 shares of the business services provider’s stock valued at $22,881,000 after buying an additional 6,600 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of The Hackett Group by 4.4% in the third quarter. Geode Capital Management LLC now owns 700,253 shares of the business services provider’s stock worth $18,399,000 after purchasing an additional 29,699 shares during the last quarter. State Street Corp increased its holdings in The Hackett Group by 4.1% during the 3rd quarter. State Street Corp now owns 641,783 shares of the business services provider’s stock valued at $16,927,000 after purchasing an additional 25,249 shares during the period. Charles Schwab Investment Management Inc. raised its position in The Hackett Group by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 266,317 shares of the business services provider’s stock valued at $6,996,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of The Hackett Group by 1.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 255,183 shares of the business services provider’s stock worth $7,839,000 after buying an additional 3,694 shares during the last quarter. 78.12% of the stock is owned by hedge funds and other institutional investors.

The Hackett Group Company Profile

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.