Information Services Group, Inc. (NASDAQ:III) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp significantly increased its stake in Information Services Group, Inc. by purchasing 78,364 shares, resulting in a total ownership of 98,124 shares.
• The company announced a quarterly dividend of $0.045 per share, with a yield of 4.1%, set to be paid on September 26th.
• Current institutional ownership stands at 73.10%, indicating strong interest from institutional investors in Information Services Group.

Mackenzie Financial Corp boosted its stake in shares of Information Services Group, Inc. (NASDAQ:III - Free Report) by 396.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,124 shares of the business services provider's stock after acquiring an additional 78,364 shares during the quarter. Mackenzie Financial Corp owned about 0.20% of Information Services Group worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in III. Tower Research Capital LLC TRC raised its holdings in Information Services Group by 195.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,710 shares of the business services provider's stock worth $26,000 after purchasing an additional 5,104 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Information Services Group in the fourth quarter valued at $34,000. Mercer Global Advisors Inc. ADV acquired a new stake in Information Services Group in the 4th quarter worth about $38,000. Marshall Wace LLP acquired a new stake in Information Services Group in the 4th quarter worth about $41,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Information Services Group by 28.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,041 shares of the business services provider's stock worth $47,000 after buying an additional 3,092 shares during the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

Information Services Group Stock Up 1.0%

Shares of III traded up $0.05 during midday trading on Wednesday, reaching $5.08. 108,821 shares of the company were exchanged, compared to its average volume of 168,529. The stock has a 50-day moving average price of $4.69 and a 200-day moving average price of $4.06. The company has a market cap of $244.83 million, a price-to-earnings ratio of 33.90, a P/E/G ratio of 1.36 and a beta of 1.23. Information Services Group, Inc. has a 1-year low of $2.95 and a 1-year high of $5.28. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.63.

Information Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a $0.045 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.18 annualized dividend and a dividend yield of 3.5%. Information Services Group's payout ratio is 120.00%.

Analysts Set New Price Targets

III has been the topic of a number of research analyst reports. Sidoti upgraded Information Services Group to a "hold" rating in a report on Monday, May 12th. Wall Street Zen upgraded Information Services Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Barrington Research reiterated an "outperform" rating and issued a $5.50 target price on shares of Information Services Group in a report on Friday, July 18th.

Information Services Group Company Profile

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.