Zacks Investment Research Downgrades Information Services Group Inc. (III) to Sell
Information Services Group Inc. (NASDAQ:III) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “INFORMATION SERVICES GROUP, INC. was founded to build an industry-leading, high-growth, information-based services company by acquiring and growing businesses in advisory, data, business and media information services. ISG’s first acquisition – TPI, the world’s leading data and advisory firm in global sourcing – provides a solid platform upon which to build a prominent, high-growth information-based services company. Based in Stamford, Connecticut, ISG has a proven leadership team with global experience in information-based services and a track record of creating significant value for shareowners, clients and employees. ISG’s strategy is to acquire and grow dynamic, innovative businesses that provide must have information-based services to such sectors as consumer products, retailing, financial services, manufacturing, media, marketing, healthcare, legal, government, telecommunications and technology. “
Other analysts also recently issued research reports about the company. B. Riley reiterated a “buy” rating and issued a $6.25 price objective on shares of Information Services Group in a research report on Monday, August 15th. Maxim Group boosted their price objective on Information Services Group from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Monday, August 8th.
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Shares of Information Services Group (NASDAQ:III) traded down 3.09% during trading on Tuesday, reaching $3.76. 44,634 shares of the company were exchanged. The firm’s 50 day moving average price is $3.97 and its 200 day moving average price is $3.91. Information Services Group has a one year low of $2.86 and a one year high of $4.32. The company has a market capitalization of $134.21 million, a PE ratio of 35.47 and a beta of 0.40.
Information Services Group (NASDAQ:III) last released its earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.02. The firm earned $60.40 million during the quarter, compared to the consensus estimate of $55.60 million. Information Services Group had a return on equity of 16.95% and a net margin of 1.84%. Equities research analysts forecast that Information Services Group will post $0.27 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of III. Advisor Group Inc. acquired a new position in Information Services Group during the second quarter valued at about $120,000. Teachers Advisors Inc. acquired a new position in Information Services Group during the second quarter valued at about $191,000. Schwab Charles Investment Management Inc. acquired a new position in Information Services Group during the second quarter valued at about $210,000. California State Teachers Retirement System acquired a new position in Information Services Group during the second quarter valued at about $244,000. Finally, Coe Capital Management LLC acquired a new position in Information Services Group during the second quarter valued at about $304,000. 52.49% of the stock is currently owned by hedge funds and other institutional investors.
About Information Services Group
Information Services Group, Inc (ISG) is a technology insights, market intelligence and advisory services company. The Company operates in the segment of fact-based sourcing advisory services. ISG supports private and public sector organizations to transform and optimize their operational environments through research, benchmarking, consulting and managed services with a focus on information technology, business process transformation, program management services and enterprise resource planning.
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