Perritt Capital Management Inc. raised its stake in Information Services Group, Inc. (NASDAQ:III) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 501,541 shares of the business services provider’s stock after purchasing an additional 4,000 shares during the period. Perritt Capital Management Inc. owned 1.06% of Information Services Group worth $1,585,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in III. Private Capital Management LLC raised its holdings in shares of Information Services Group by 19.0% in the 1st quarter. Private Capital Management LLC now owns 4,570,564 shares of the business services provider’s stock worth $17,048,000 after acquiring an additional 730,728 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Information Services Group during the 2nd quarter valued at $448,000. Globeflex Capital L P lifted its stake in Information Services Group by 487.1% during the 1st quarter. Globeflex Capital L P now owns 103,218 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 85,638 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in Information Services Group by 19.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 208,958 shares of the business services provider’s stock valued at $779,000 after acquiring an additional 34,571 shares in the last quarter. Finally, Alambic Investment Management L.P. purchased a new position in Information Services Group during the 1st quarter worth $121,000. Hedge funds and other institutional investors own 47.17% of the company’s stock.
Several brokerages have recently commented on III. Zacks Investment Research downgraded shares of Information Services Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. ValuEngine raised shares of Information Services Group from a “sell” rating to a “hold” rating in a research report on Monday, August 26th. 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. Finally, Noble Financial restated a “buy” rating and issued a $5.25 target price on shares of Information Services Group in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.75.
In other Information Services Group news, CEO Michael P. Connors sold 10,750 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $2.64, for a total value of $28,380.00. Following the sale, the chief executive officer now directly owns 5,112,623 shares in the company, valued at $13,497,324.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael P. Connors sold 13,856 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $2.26, for a total value of $31,314.56. Following the transaction, the chief executive officer now directly owns 5,088,017 shares in the company, valued at approximately $11,498,918.42. The disclosure for this sale can be found here. Insiders have sold a total of 39,402 shares of company stock valued at $95,589 over the last three months. Insiders own 13.90% of the company’s stock.
Shares of Information Services Group stock traded up $0.07 during trading hours on Wednesday, hitting $2.73. 8,852 shares of the company’s stock traded hands, compared to its average volume of 40,986. Information Services Group, Inc. has a 12-month low of $2.19 and a 12-month high of $5.26. The stock has a market capitalization of $126.04 million, a price-to-earnings ratio of 12.05, a PEG ratio of 1.11 and a beta of 0.46. The company has a fifty day simple moving average of $2.60 and a 200-day simple moving average of $3.26. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.44 and a quick ratio of 2.44.
Information Services Group (NASDAQ:III) last posted its quarterly earnings results on Monday, August 5th. The business services provider reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The company had revenue of $67.33 million during the quarter, compared to analyst estimates of $69.40 million. Information Services Group had a net margin of 1.00% and a return on equity of 8.37%. On average, analysts forecast that Information Services Group, Inc. will post 0.16 EPS for the current fiscal year.
Information Services Group Company Profile
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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