Numeric Investors LLC Has $2.23 Million Stake in The Hackett Group, Inc. (HCKT)
Numeric Investors LLC decreased its position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) by 52.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 143,900 shares of the business services provider’s stock after selling 159,689 shares during the quarter. Numeric Investors LLC owned about 0.50% of The Hackett Group worth $2,230,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in shares of The Hackett Group during the first quarter valued at $125,000. SG Americas Securities LLC acquired a new position in shares of The Hackett Group during the second quarter valued at $116,000. Strs Ohio boosted its holdings in shares of The Hackett Group by 92.2% during the first quarter. Strs Ohio now owns 9,800 shares of the business services provider’s stock valued at $191,000 after acquiring an additional 4,700 shares during the period. Voya Investment Management LLC acquired a new position in shares of The Hackett Group during the second quarter valued at $175,000. Finally, Trexquant Investment LP acquired a new position in shares of The Hackett Group during the first quarter valued at $246,000. 81.51% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on HCKT shares. Zacks Investment Research raised shares of The Hackett Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub raised shares of The Hackett Group from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, SunTrust Banks, Inc. started coverage on shares of The Hackett Group in a report on Thursday, June 15th. They set a “buy” rating and a $19.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The Hackett Group has a consensus rating of “Hold” and an average price target of $19.25.
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Shares of The Hackett Group, Inc. (NASDAQ:HCKT) opened at 15.31 on Friday. The firm has a market cap of $441.98 million, a P/E ratio of 20.39 and a beta of 0.87. The Hackett Group, Inc. has a 12-month low of $13.24 and a 12-month high of $20.69. The company has a 50-day moving average of $14.31 and a 200 day moving average of $16.09.
The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The company had revenue of $73.60 million for the quarter, compared to analyst estimates of $74.36 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. Equities analysts predict that The Hackett Group, Inc. will post $0.97 EPS for the current year.
The Hackett Group announced that its Board of Directors has authorized a share buyback plan on Tuesday, August 8th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 17% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
About The Hackett Group
The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.
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