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

The Hackett Group, Inc. (NASDAQ:HCKT) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 972,031 shares, a growth of 21.2% from the February 12th total of 802,297 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily volume of 428,345 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 428,345 shares, the days-to-cover ratio is currently 2.3 days. Currently, 4.2% of the shares of the company are sold short.

The Hackett Group Trading Down 0.4%

Shares of HCKT opened at $13.58 on Wednesday. The Hackett Group has a fifty-two week low of $12.76 and a fifty-two week high of $29.51. The firm has a market cap of $344.66 million, a price-to-earnings ratio of 28.89, a PEG ratio of 0.90 and a beta of 1.05. The firm has a 50 day moving average price of $16.41 and a 200-day moving average price of $18.30. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.72 and a current ratio of 1.72.

The Hackett Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 3.5%. The Hackett Group’s payout ratio is currently 102.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HCKT. Geode Capital Management LLC lifted its stake in shares of The Hackett Group by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 765,243 shares of the business services provider’s stock valued at $19,455,000 after acquiring an additional 18,196 shares during the last quarter. SG Americas Securities LLC purchased a new stake in The Hackett Group during the 3rd quarter valued at about $916,000. Rhumbline Advisers grew its position in The Hackett Group by 271.2% during the 3rd quarter. Rhumbline Advisers now owns 146,663 shares of the business services provider’s stock worth $2,788,000 after acquiring an additional 107,157 shares during the last quarter. Royce & Associates LP grew its position in The Hackett Group by 44.1% during the 3rd quarter. Royce & Associates LP now owns 2,581,331 shares of the business services provider’s stock worth $49,071,000 after acquiring an additional 790,522 shares during the last quarter. Finally, Magnetar Financial LLC increased its stake in The Hackett Group by 334.4% in the 2nd quarter. Magnetar Financial LLC now owns 42,528 shares of the business services provider’s stock worth $1,081,000 after purchasing an additional 32,738 shares during the period. 78.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

HCKT has been the topic of a number of recent analyst reports. Roth Mkm set a $24.00 target price on The Hackett Group in a research note on Wednesday, February 18th. Barrington Research reduced their price target on shares of The Hackett Group from $27.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Zacks Research downgraded shares of The Hackett Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Finally, Weiss Ratings lowered shares of The Hackett Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, The Hackett Group currently has a consensus rating of “Reduce” and an average target price of $20.50.

The Hackett Group Company Profile

The Hackett Group is a global strategic advisory firm specializing in business transformation, benchmarking and research. Leveraging a proprietary data repository and the Hackett Methodology®, the company helps organizations optimize performance across enterprise functions. Its advisory services span digital transformation, process optimization and operational excellence, enabling clients to identify best practices, streamline workflows and achieve sustainable cost savings.

Through detailed benchmarking studies and industry research, The Hackett Group delivers actionable insights into finance, procurement, human resources, information technology and supply chain management.