Longboard Asset Management LP Makes New Investment in The Hackett Group, Inc. (NASDAQ:HCKT)

Longboard Asset Management LP acquired a new position in shares of The Hackett Group, Inc. (NASDAQ:HCKT) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 6,724 shares of the business services provider’s stock, valued at approximately $207,000.

Several other hedge funds have also recently bought and sold shares of HCKT. Millennium Management LLC raised its stake in The Hackett Group by 293.2% during the second quarter. Millennium Management LLC now owns 224,567 shares of the business services provider’s stock worth $4,878,000 after acquiring an additional 167,453 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in The Hackett Group by 150.2% during the third quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock worth $6,607,000 after acquiring an additional 150,962 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in The Hackett Group during the third quarter worth $3,256,000. Dean Investment Associates LLC raised its stake in The Hackett Group by 57.2% during the third quarter. Dean Investment Associates LLC now owns 165,647 shares of the business services provider’s stock worth $4,352,000 after acquiring an additional 60,307 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in The Hackett Group by 96.9% during the third quarter. JPMorgan Chase & Co. now owns 98,884 shares of the business services provider’s stock worth $2,598,000 after acquiring an additional 48,661 shares in the last quarter. 78.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HCKT. Barrington Research restated an “outperform” rating and set a $28.00 target price on shares of The Hackett Group in a report on Tuesday, November 5th. Roth Mkm increased their target price on The Hackett Group from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Craig Hallum increased their target price on The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

The Hackett Group Price Performance

The Hackett Group stock opened at $31.59 on Wednesday. The business’s 50-day simple moving average is $30.89 and its 200 day simple moving average is $28.02. The stock has a market cap of $871.57 million, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.54 and a beta of 0.99. The Hackett Group, Inc. has a 12-month low of $20.23 and a 12-month high of $32.83. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.18.

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.