Information Services Group (NASDAQ:III) Shares Cross Above Fifty Day Moving Average – Here’s Why

Shares of Information Services Group, Inc. (NASDAQ:III) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.34 and traded as high as $3.70. Information Services Group shares last traded at $3.63, with a volume of 68,787 shares trading hands.

Wall Street Analysts Forecast Growth

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

Information Services Group Stock Down 0.8 %

The business has a 50 day moving average of $3.35 and a two-hundred day moving average of $3.27. The stock has a market capitalization of $178.12 million, a PE ratio of -51.85, a PEG ratio of 3.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 1.97.

Information Services Group Announces Dividend

The company also recently declared 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. This represents a $0.18 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Tuesday, December 3rd. Information Services Group’s payout ratio is -257.11%.

Insider Transactions at Information Services Group

In other Information Services Group news, Director Kalpana Raina sold 15,075 shares of Information Services Group stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $3.35, for a total transaction of $50,501.25. Following the completion of the sale, the director now directly owns 359,338 shares in the company, valued at approximately $1,203,782.30. The trade was a 4.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 44,931 shares of company stock valued at $150,425 in the last 90 days. Insiders own 16.00% of the company’s stock.

Institutional Trading of Information Services Group

A number of hedge funds have recently added to or reduced their stakes in the company. Copeland Capital Management LLC purchased a new position in Information Services Group during the third quarter worth approximately $32,000. Price T Rowe Associates Inc. MD acquired a new position in Information Services Group during the first quarter worth $45,000. Arkadios Wealth Advisors purchased a new position in Information Services Group in the 2nd quarter valued at about $32,000. The Manufacturers Life Insurance Company acquired a new stake in Information Services Group in the 2nd quarter worth about $35,000. Finally, SG Americas Securities LLC purchased a new stake in Information Services Group during the 3rd quarter worth approximately $49,000. 73.10% of the stock is owned by hedge funds and other institutional investors.

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.