Short Interest in The Hackett Group, Inc. (NASDAQ:HCKT) Rises By 49.6%

Key Points

• Short interest in The Hackett Group, Inc. has surged by 49.6% in August, reaching a total of 1,040,000 shares.
• The company declared a quarterly dividend of $0.12 per share, with an annualized yield of 2.3%, payable on October 3rd.
• Analysts have varying views on the stock, with Wall Street Zen downgrading it to a "hold" while Barrington Research maintains an "outperform" rating with a price target of $27.00.

The Hackett Group, Inc. (NASDAQ:HCKT - Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 1,040,000 shares, agrowthof49.6% from the July 31st total of 695,100 shares. Based on an average trading volume of 251,400 shares, the short-interest ratio is presently 4.1 days. Currently,4.2% of the shares of the company are sold short. Currently,4.2% of the shares of the company are sold short. Based on an average trading volume of 251,400 shares, the short-interest ratio is presently 4.1 days.

The Hackett Group Price Performance

NASDAQ HCKT traded up $0.18 during trading hours on Friday, reaching $20.94. 154,161 shares of the company's stock were exchanged, compared to its average volume of 286,448. The firm has a fifty day moving average of $22.55 and a 200-day moving average of $25.19. The Hackett Group has a one year low of $19.39 and a one year high of $34.02. 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 stock has a market cap of $576.06 million, a PE ratio of 34.90, a price-to-earnings-growth ratio of 1.44 and a beta of 1.02.

The Hackett Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.48 annualized dividend and a yield of 2.3%. The Hackett Group's dividend payout ratio is currently 80.00%.

Analysts Set New Price Targets

HCKT has been the topic of several research reports. Wall Street Zen lowered The Hackett Group from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. Barrington Research restated an "outperform" rating and set a $27.00 price target on shares of The Hackett Group in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, The Hackett Group currently has an average rating of "Buy" and a consensus target price of $29.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HCKT. Stifel Financial Corp lifted its stake in shares of The Hackett Group by 3.5% in the 4th quarter. Stifel Financial Corp now owns 23,789 shares of the business services provider's stock valued at $731,000 after purchasing an additional 800 shares during the period. Northern Trust Corp lifted its stake in shares of The Hackett Group by 7.1% in the 4th quarter. Northern Trust Corp now owns 284,120 shares of the business services provider's stock valued at $8,728,000 after purchasing an additional 18,746 shares during the period. Ameriprise Financial Inc. increased its position in shares of The Hackett Group by 18.9% in the 4th quarter. Ameriprise Financial Inc. now owns 18,872 shares of the business services provider's stock valued at $580,000 after buying an additional 3,004 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of The Hackett Group by 55.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 35,612 shares of the business services provider's stock valued at $1,094,000 after buying an additional 12,743 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of The Hackett Group by 72.2% in the 4th quarter. Deutsche Bank AG now owns 20,657 shares of the business services provider's stock valued at $635,000 after buying an additional 8,658 shares in the last quarter. Institutional investors and hedge funds own 78.12% of the company's stock.

About The Hackett Group

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.

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