The Hackett Group, Inc. (NASDAQ:HCKT) Short Interest Down 22.4% in March


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The Hackett Group, Inc. (NASDAQ:HCKT) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 434,000 shares, a decline of 22.4% from the March 15th total of 559,600 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 148,400 shares, the days-to-cover ratio is currently 2.9 days.

Shares of HCKT stock traded down $0.10 during mid-day trading on Monday, reaching $17.03. The stock had a trading volume of 12,969 shares, compared to its average volume of 144,142. The firm has a market cap of $514.92 million, a PE ratio of 85.65, a P/E/G ratio of 1.40 and a beta of 0.71. The Hackett Group has a one year low of $11.05 and a one year high of $18.94. The firm’s 50 day simple moving average is $16.91 and its 200 day simple moving average is $14.79.

The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Monday, February 22nd. The business services provider reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The company had revenue of $59.22 million for the quarter, compared to analyst estimates of $56.71 million. The Hackett Group had a return on equity of 10.58% and a net margin of 2.81%. As a group, sell-side analysts expect that The Hackett Group will post 0.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 8th. Investors of record on Friday, March 26th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.35%. This is a positive change from The Hackett Group’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 25th. The Hackett Group’s payout ratio is presently 50.63%.

Several equities research analysts have issued reports on HCKT shares. Roth Capital boosted their price objective on shares of The Hackett Group from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. Zacks Investment Research upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Friday, February 26th. Four research analysts have rated the stock with a buy rating, The Hackett Group presently has an average rating of “Buy” and a consensus target price of $19.00.

A number of institutional investors have recently modified their holdings of the stock. AltraVue Capital LLC increased its position in The Hackett Group by 8.3% in the 1st quarter. AltraVue Capital LLC now owns 251,189 shares of the business services provider’s stock valued at $4,117,000 after buying an additional 19,339 shares in the last quarter. Legacy Wealth Asset Management LLC bought a new stake in The Hackett Group in the 4th quarter valued at about $145,000. JPMorgan Chase & Co. boosted its stake in shares of The Hackett Group by 126.1% in the 4th quarter. JPMorgan Chase & Co. now owns 21,078 shares of the business services provider’s stock worth $303,000 after buying an additional 11,754 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of The Hackett Group by 2.4% in the 4th quarter. Nuveen Asset Management LLC now owns 184,791 shares of the business services provider’s stock worth $2,659,000 after buying an additional 4,355 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in The Hackett Group in the fourth quarter valued at approximately $153,000. 78.87% of the stock is owned by institutional investors and hedge funds.

The Hackett Group Company Profile

The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and internationally. It offers best practice intelligence center, an online searchable repository of best practices, performance metrics, conference presentations, and associated research; best practice accelerators that provide Web-based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry for access to fact-based advice on proven approaches and methods; best practice research that provides insights into the proven approaches; and peer interaction comprising member-led Webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content.

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