Information Services Group, Inc. (NASDAQ:III) Sees Significant Growth in Short Interest

Information Services Group, Inc. (NASDAQ:III) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 139,500 shares, an increase of 11.5% from the October 31st total of 125,100 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 92,900 shares, the short-interest ratio is currently 1.5 days.

Analyst Ratings Changes

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

Information Services Group Price Performance

III opened at $3.68 on Wednesday. The company has a market capitalization of $180.58 million, a price-to-earnings ratio of -52.56, a PEG ratio of 3.08 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. The firm has a 50-day moving average price of $3.28 and a 200-day moving average price of $3.24. Information Services Group has a twelve month low of $2.92 and a twelve month high of $4.98.

Information Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.045 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.18 annualized dividend and a dividend yield of 4.89%. Information Services Group’s dividend payout ratio is currently -257.11%.

Insider Buying and Selling at Information Services Group

In other Information Services Group news, Director Kalpana Raina sold 18,795 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was 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 in the company, valued at $1,343,324.79. This represents a 4.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 44,931 shares of company stock worth $150,425. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Information Services Group

Several hedge funds have recently made changes to their positions in III. Brown Brothers Harriman & Co. boosted its position 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 acquiring an additional 293,328 shares during the last quarter. Geode Capital Management LLC lifted its position in Information Services Group by 9.3% during the third quarter. Geode Capital Management LLC now owns 820,929 shares of the business services provider’s stock valued at $2,709,000 after purchasing an additional 70,135 shares during the last quarter. Williams & Novak LLC purchased a new position in Information Services Group in the 2nd quarter worth approximately $128,000. Equitable Trust Co. increased its holdings in shares of Information Services Group by 28.3% in the 2nd quarter. Equitable Trust Co. now owns 165,957 shares of the business services provider’s stock worth $488,000 after buying an additional 36,645 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Information Services Group by 52.5% during the 3rd quarter. Barclays PLC now owns 101,111 shares of the business services provider’s stock valued at $334,000 after buying an additional 34,816 shares in the last quarter. 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.