Rhumbline Advisers Sells 14,124 Shares of The Hackett Group, Inc. $HCKT

Key Points

• Rhumbline Advisers has reduced its holdings in The Hackett Group, Inc. by 26.6%, selling 14,124 shares and retaining approximately 0.14% of the company, valued at $1,137,000.
• Analysts have mixed opinions on the stock, with some downgrading the rating from "buy" to "hold", while the consensus rating remains a "Buy" with an average target price of $29.67.
• The Hackett Group has announced a quarterly dividend of $0.12 per share, set to be paid on October 3rd, contributing to a 2.4% dividend yield.

Rhumbline Advisers lessened its stake in The Hackett Group, Inc. (NASDAQ:HCKT - Free Report) by 26.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,925 shares of the business services provider's stock after selling 14,124 shares during the quarter. Rhumbline Advisers owned about 0.14% of The Hackett Group worth $1,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HCKT. Nuveen LLC acquired a new position in The Hackett Group during the first quarter worth about $3,241,000. Invesco Ltd. raised its stake in The Hackett Group by 151.7% during the first quarter. Invesco Ltd. now owns 126,874 shares of the business services provider's stock worth $3,707,000 after acquiring an additional 76,460 shares in the last quarter. Jane Street Group LLC acquired a new position in The Hackett Group during the first quarter worth about $1,379,000. Russell Investments Group Ltd. raised its stake in The Hackett Group by 21.8% during the first quarter. Russell Investments Group Ltd. now owns 249,033 shares of the business services provider's stock worth $7,277,000 after acquiring an additional 44,493 shares in the last quarter. Finally, Millennium Management LLC raised its stake in The Hackett Group by 269.6% during the fourth quarter. Millennium Management LLC now owns 53,689 shares of the business services provider's stock worth $1,649,000 after acquiring an additional 39,163 shares in the last quarter. Institutional investors and hedge funds own 78.12% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on HCKT. Barrington Research reissued an "outperform" rating and set a $27.00 target price on shares of The Hackett Group in a research note on Thursday, September 4th. Wall Street Zen cut The Hackett Group from a "buy" rating to a "hold" rating in a report on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, The Hackett Group has a consensus rating of "Buy" and a consensus target price of $29.67.

The Hackett Group Trading Down 0.5%

HCKT stock traded down $0.11 during trading on Tuesday, hitting $19.67. The company had a trading volume of 41,210 shares, compared to its average volume of 189,810. The business has a 50-day moving average of $21.50 and a 200-day moving average of $24.43. The Hackett Group, Inc. has a one year low of $19.39 and a one year high of $34.02. The stock has a market cap of $540.98 million, a PE ratio of 32.76, a PEG ratio of 1.37 and a beta of 1.03. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19.

The Hackett Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be issued a $0.12 dividend. The ex-dividend date is Friday, September 19th. This represents a $0.48 annualized dividend and a yield of 2.4%. The Hackett Group's dividend payout ratio is presently 80.00%.

The Hackett Group Company Profile

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.