The Hackett Group, Inc. (NASDAQ:HCKT) Sees Large Growth in Short Interest

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 target of a large increase in short interest in August. As of August 15th, there was short interest totaling 1,040,000 shares, an increase of 49.6% from the July 31st total of 695,100 shares. Based on an average daily trading volume, of 251,400 shares, the days-to-cover ratio is currently 4.1 days. Currently, 4.2% of the shares of the stock are short sold. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 251,400 shares, the days-to-cover ratio is currently 4.1 days.

Hedge Funds Weigh In On The Hackett Group

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in The Hackett Group by 2.4% during the second quarter. Geode Capital Management LLC now owns 765,243 shares of the business services provider's stock valued at $19,455,000 after purchasing an additional 18,196 shares in the last quarter. Ariel Investments LLC boosted its holdings in The Hackett Group by 4.1% in the first quarter. Ariel Investments LLC now owns 628,672 shares of the business services provider's stock worth $18,370,000 after acquiring an additional 24,608 shares in the last quarter. Boston Partners boosted its holdings in The Hackett Group by 1.8% in the second quarter. Boston Partners now owns 533,948 shares of the business services provider's stock worth $13,305,000 after acquiring an additional 9,477 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of The Hackett Group by 1.6% during the first quarter. Punch & Associates Investment Management Inc. now owns 410,741 shares of the business services provider's stock worth $12,002,000 after buying an additional 6,635 shares during the period. Finally, Wellington Management Group LLP boosted its position in The Hackett Group by 0.7% in the first quarter. Wellington Management Group LLP now owns 395,917 shares of the business services provider's stock valued at $11,569,000 after buying an additional 2,626 shares during the last quarter. Hedge funds and other institutional investors own 78.12% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HCKT. Wall Street Zen downgraded The Hackett Group from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. Barrington Research reaffirmed an "outperform" rating and issued a $27.00 price objective on shares of The Hackett Group in a research note on Thursday, September 4th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, The Hackett Group currently has a consensus rating of "Buy" and a consensus target price of $29.67.

The Hackett Group Trading Down 1.7%

NASDAQ:HCKT traded down $0.36 during midday trading on Friday, hitting $20.91. 461,042 shares of the company traded hands, compared to its average volume of 249,442. The firm's fifty day moving average is $22.09 and its 200-day moving average is $24.90. The Hackett Group has a 12-month low of $19.39 and a 12-month high of $34.02. The firm has a market capitalization of $575.23 million, a P/E ratio of 34.85, a P/E/G ratio of 1.46 and a beta of 1.02. 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 Hackett Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a $0.12 dividend. The ex-dividend date is Friday, September 19th. This represents a $0.48 dividend on an annualized basis and a yield of 2.3%. The Hackett Group's dividend payout ratio (DPR) 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.