Mackenzie Financial Corp Buys 78,364 Shares of Information Services Group, Inc. (NASDAQ:III)

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 raised its stake in Information Services Group, Inc. (NASDAQ:III - Free Report) by 396.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,124 shares of the business services provider's stock after acquiring an additional 78,364 shares during the period. Mackenzie Financial Corp owned approximately 0.20% of Information Services Group worth $384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in III. Wells Fargo & Company MN raised its holdings in Information Services Group by 29.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,915 shares of the business services provider's stock valued at $70,000 after acquiring an additional 4,741 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Information Services Group by 11,468.6% in the 4th quarter. Russell Investments Group Ltd. now owns 115,686 shares of the business services provider's stock valued at $386,000 after purchasing an additional 114,686 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Information Services Group in the 4th quarter valued at $698,000. Barclays PLC increased its stake in shares of Information Services Group by 9.3% in the 4th quarter. Barclays PLC now owns 110,539 shares of the business services provider's stock valued at $369,000 after purchasing an additional 9,428 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Information Services Group in the 4th quarter valued at $50,000. 73.10% of the stock is owned by institutional investors and hedge funds.

Information Services Group Stock Up 6.8%

III stock traded up $0.30 during trading on Monday, reaching $4.74. 688,354 shares of the stock were exchanged, compared to its average volume of 167,223. The firm's 50 day moving average is $4.68 and its 200 day moving average is $4.05. Information Services Group, Inc. has a twelve month low of $2.95 and a twelve month 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. The firm has a market cap of $228.42 million, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23.

Information Services Group Dividend Announcement

The company 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 dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, September 5th. Information Services Group's dividend payout ratio is 120.00%.

Analyst Upgrades and Downgrades

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

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.