The Hackett Group (NASDAQ:HCKT) Reaches New 12-Month Low - What's Next?

Key Points

• The Hackett Group's stock hit a new 52-week low of $19.23 during trading, closing slightly higher at $19.30 with a trading volume of 41,181 shares.
• The company announced a quarterly dividend of $0.12 per share, with a yield of 2.5%, set to be paid on October 3rd.
• Several analysts have adjusted their ratings on the stock, with Wall Street Zen downgrading it from "buy" to "hold", while Barrington Research maintains an "outperform" rating and a price target of $27.00.

Shares of The Hackett Group, Inc. (NASDAQ:HCKT - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $19.23 and last traded at $19.30, with a volume of 41181 shares changing hands. The stock had previously closed at $19.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HCKT shares. Wall Street Zen downgraded shares of The Hackett Group from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. Barrington Research reissued an "outperform" rating and set 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.com, The Hackett Group currently has an average rating of "Buy" and an average price target of $29.67.

The Hackett Group Price Performance

The stock has a market capitalization of $530.53 million, a PE ratio of 32.12, a PEG ratio of 1.35 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 company's 50 day simple moving average is $21.33 and its 200 day simple moving average is $24.36.

The Hackett Group Dividend Announcement

The company 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. This represents a $0.48 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 19th. The Hackett Group's payout ratio is presently 80.00%.

Institutional Trading of The Hackett Group

Several institutional investors have recently made changes to their positions in HCKT. Ameriprise Financial Inc. grew its stake in shares of The Hackett Group by 18.9% during 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 during the period. Deutsche Bank AG grew its stake in shares of The Hackett Group by 72.2% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of The Hackett Group by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,393 shares of the business services provider's stock valued at $442,000 after buying an additional 503 shares during the period. Millennium Management LLC grew its stake in shares of The Hackett Group by 269.6% during the 4th quarter. Millennium Management LLC now owns 53,689 shares of the business services provider's stock valued at $1,649,000 after buying an additional 39,163 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in shares of The Hackett Group during the 4th quarter valued at $219,000. 78.12% of the stock is owned by hedge funds and other institutional investors.

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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