Short Interest in The Hackett Group, Inc. (NASDAQ:HCKT) Rises By 11.8%

The Hackett Group, Inc. (NASDAQ:HCKT) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 97,500 shares, an increase of 11.8% from the December 15th total of 87,200 shares. Based on an average daily volume of 120,700 shares, the short-interest ratio is presently 0.8 days. Currently, 0.4% of the company’s shares are short sold.

The Hackett Group stock traded up $0.29 during midday trading on Thursday, hitting $16.99. 649 shares of the stock were exchanged, compared to its average volume of 152,903. The Hackett Group has a fifty-two week low of $14.53 and a fifty-two week high of $19.57. The stock has a market capitalization of $496.88 million, a price-to-earnings ratio of 16.11, a PEG ratio of 1.33 and a beta of 0.67. The stock’s 50-day simple moving average is $15.82 and its 200 day simple moving average is $16.20. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The Hackett Group had a return on equity of 21.32% and a net margin of 7.45%. The firm had revenue of $72.64 million for the quarter, compared to analyst estimates of $73.16 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The Hackett Group’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts anticipate that The Hackett Group will post 0.85 EPS for the current fiscal year.

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th were paid a dividend of $0.18 per share. This represents a yield of 2.4%. The ex-dividend date was Thursday, December 19th. This is a positive change from The Hackett Group’s previous Semi-Annual dividend of $0.17. The Hackett Group’s dividend payout ratio (DPR) is 33.96%.

A number of hedge funds have recently made changes to their positions in HCKT. BlackRock Inc. grew its stake in The Hackett Group by 21.6% in the second quarter. BlackRock Inc. now owns 2,626,276 shares of the business services provider’s stock valued at $44,096,000 after acquiring an additional 466,793 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of The Hackett Group during the second quarter worth about $4,727,000. Marshall Wace LLP acquired a new position in shares of The Hackett Group during the second quarter worth about $4,716,000. Millennium Management LLC boosted its position in shares of The Hackett Group by 1,586.6% during the third quarter. Millennium Management LLC now owns 269,118 shares of the business services provider’s stock worth $4,429,000 after buying an additional 253,162 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of The Hackett Group during the third quarter worth about $3,039,000. 78.56% of the stock is owned by institutional investors.

Several research firms recently issued reports on HCKT. Barrington Research cut their price objective on shares of The Hackett Group from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Zacks Investment Research upgraded shares of The Hackett Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. TheStreet cut shares of The Hackett Group from a “b” rating to a “c+” rating in a research report on Tuesday, December 3rd. Finally, BidaskClub upgraded shares of The Hackett Group from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.00.

The Hackett Group Company Profile

The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and European countries. Its executive advisory programs include best practice intelligence center, an online searchable repository of best practices, performance metrics, conference presentations, and associated research; best practice accelerators that provide Web-based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry, an inquiry service used by clients for access to fact-based advice on proven approaches and methods; best practice research, a research that provides insights into the proven approaches; and peer interaction comprising member-led Webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content.

Featured Story: Compound Annual Growth Rate (CAGR)

Receive News & Ratings for The Hackett Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hackett Group and related companies with MarketBeat.com's FREE daily email newsletter.