Millennium Management LLC Lowers Stock Position in Information Services Group, Inc. (NASDAQ:III)

Millennium Management LLC decreased its position in shares of Information Services Group, Inc. (NASDAQ:III - Free Report) by 23.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,055 shares of the business services provider's stock after selling 54,464 shares during the quarter. Millennium Management LLC owned 0.36% of Information Services Group worth $585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC raised its position 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 acquiring an additional 5,104 shares during the last quarter. Picton Mahoney Asset Management increased its stake in shares of Information Services Group by 47.2% during the 4th quarter. Picton Mahoney Asset Management now owns 9,704 shares of the business services provider's stock worth $32,000 after purchasing an additional 3,110 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Information Services Group during the 4th quarter worth approximately $34,000. Access Investment Management LLC lifted its stake in Information Services Group by 183.8% in the 4th quarter. Access Investment Management LLC now owns 10,515 shares of the business services provider's stock valued at $35,000 after buying an additional 6,810 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Information Services Group during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 73.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on III. Wall Street Zen cut Information Services Group from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Sidoti upgraded Information Services Group to a "hold" rating in a research report on Monday, May 12th. Finally, Barrington Research upped their target price on shares of Information Services Group from $3.75 to $5.50 and gave the company an "outperform" rating in a report on Monday, May 12th.

Information Services Group Trading Down 0.8%

III stock traded down $0.04 during midday trading on Thursday, hitting $4.78. The stock had a trading volume of 111,645 shares, compared to its average volume of 118,919. The company's 50-day moving average price is $4.21 and its 200 day moving average price is $3.67. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market cap of $230.42 million, a PE ratio of -68.28, a price-to-earnings-growth ratio of 1.34 and a beta of 1.23. Information Services Group, Inc. has a 12-month low of $2.92 and a 12-month high of $5.05.

Information Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.18 annualized dividend and a dividend yield of 3.77%. Information Services Group's payout ratio is currently 120.00%.

About Information Services Group

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.