Information Services Group, Inc. $III Shares Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Information Services Group position by 21.9% in the first quarter, adding 339,343 shares to own 1.89 million shares worth approximately $7.25 million, or 3.95% of the company.
• Other institutions also raised or initiated positions, bringing total institutional and hedge-fund ownership to 73.1% of Information Services Group’s stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $5.50, while the company recently beat quarterly earnings and revenue estimates with earnings per share of $0.09 and revenue of $61.18 million.

Renaissance Technologies LLC grew its position in Information Services Group, Inc. (NASDAQ:III - Free Report) by 21.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,888,952 shares of the business services provider's stock after buying an additional 339,343 shares during the quarter. Renaissance Technologies LLC owned 3.95% of Information Services Group worth $7,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in III. Dimensional Fund Advisors LP boosted its position in shares of Information Services Group by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,541,036 shares of the business services provider's stock worth $5,918,000 after buying an additional 8,126 shares in the last quarter. SEB Asset Management AB acquired a new position in Information Services Group during the first quarter worth about $261,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Information Services Group by 4.8% in the first quarter. Hillsdale Investment Management Inc. now owns 845,203 shares of the business services provider's stock valued at $3,246,000 after purchasing an additional 38,500 shares in the last quarter. Equitable Trust Co. lifted its holdings in shares of Information Services Group by 8.3% in the first quarter. Equitable Trust Co. now owns 122,397 shares of the business services provider's stock valued at $470,000 after purchasing an additional 9,355 shares in the last quarter. Finally, Abel Hall LLC acquired a new stake in shares of Information Services Group in the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 73.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on III. Weiss Ratings reissued a "hold (c)" rating on shares of Information Services Group in a research note on Tuesday, June 9th. Wall Street Zen lowered Information Services Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Barrington Research reiterated an "outperform" rating and set a $5.50 target price on shares of Information Services Group in a report on Thursday, April 16th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.50.

Information Services Group Price Performance

Information Services Group stock opened at $4.29 on Tuesday. The stock has a market capitalization of $205.23 million, a P/E ratio of 21.45, a P/E/G ratio of 0.90 and a beta of 1.10. Information Services Group, Inc. has a 12-month low of $3.74 and a 12-month high of $6.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.65 and a quick ratio of 2.65. The firm's 50-day moving average is $4.15 and its two-hundred day moving average is $4.40.

Information Services Group (NASDAQ:III - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $61.18 million during the quarter, compared to analyst estimates of $60.85 million. Information Services Group had a net margin of 4.29% and a return on equity of 12.92%. Equities analysts predict that Information Services Group, Inc. will post 0.27 earnings per share for the current year.

Information Services Group Company Profile

Information Services Group, Inc (ISG) is a leading global technology research and advisory firm specializing in digital transformation, sourcing strategies and technology-driven business operations. Headquartered in Stamford, Connecticut, the company leverages deep market insights and data analytics to help clients optimize cost structures, accelerate growth and navigate complex technology landscapes. Since its founding in 2006, ISG has cultivated expertise across industries including financial services, healthcare, manufacturing and the public sector.

ISG's core offerings include sourcing advisory, managed governance, market intelligence and research services.

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