The Hackett Group (NASDAQ:HCKT) Reaches New 12-Month Low - Here's Why

Key Points

• The Hackett Group's stock reached a new 12-month low at $18.66 during trading, down from a previous close of $19.09, with a trading volume of 58,014 shares.
• Analysts have mixed opinions on the stock, with Barrington Research maintaining an "outperform" rating and a price target of $27.00, while Wall Street Zen downgraded it from "buy" to "hold."
• The company recently declared a quarterly dividend of $0.12 per share, yielding 2.6%, with an annualized payout ratio of 80%.

The Hackett Group, Inc. (NASDAQ:HCKT - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $18.66 and last traded at $18.70, with a volume of 58014 shares traded. The stock had previously closed at $19.09.

Analyst Ratings Changes

Several equities research analysts recently commented on HCKT shares. Barrington Research reiterated an "outperform" rating and issued a $27.00 price objective on shares of The Hackett Group in a report on Thursday, September 4th. Wall Street Zen downgraded The Hackett Group from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of The Hackett Group in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.67.

The Hackett Group Trading Down 2.7%

The stock has a fifty day moving average of $20.41 and a 200 day moving average of $23.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market capitalization of $511.00 million, a PE ratio of 30.97, a PEG ratio of 1.32 and a beta of 0.97.

The Hackett Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, September 19th. The Hackett Group's dividend payout ratio is presently 80.00%.

Hedge Funds Weigh In On The Hackett Group

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in The Hackett Group by 23.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,234 shares of the business services provider's stock valued at $1,204,000 after acquiring an additional 7,885 shares during the last quarter. Envestnet Asset Management Inc. grew its position in The Hackett Group by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 234,470 shares of the business services provider's stock valued at $6,851,000 after acquiring an additional 1,626 shares during the last quarter. Victory Capital Management Inc. grew its position in The Hackett Group by 128.7% in the 1st quarter. Victory Capital Management Inc. now owns 28,487 shares of the business services provider's stock valued at $832,000 after acquiring an additional 16,030 shares during the last quarter. GAMMA Investing LLC grew its position in The Hackett Group by 2,890.4% in the 1st quarter. GAMMA Investing LLC now owns 11,483 shares of the business services provider's stock valued at $3,360,000 after acquiring an additional 11,099 shares during the last quarter. Finally, Haven Private LLC grew its position in The Hackett Group by 30.8% in the 1st quarter. Haven Private LLC now owns 30,462 shares of the business services provider's stock valued at $890,000 after acquiring an additional 7,174 shares during the last quarter. Institutional investors own 78.12% of the company's stock.

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.

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