Why Hackett Group Stock Was Down on Wednesday
Investors in consulting specialist Hackett Group (NASDAQ: HCKT) were seeing red on Wednesday. The stock was down 12% by 2:45 p.m. ET, compared to a slight increase in the S&P 500. The slump put Hackett into negative territory for 2023 although shares are still beating the market over the past full year.
The decline came as Wall Street digested management's fourth-quarter operating update.
Hackett's revenue was $70.1 million in the selling period that ran through late December, the company said before the market opened on Wednesday, or flat year over year. That result surpassed the outlook that executives issued in the third-quarter report. Adjusted earnings also edged past expectations, landing at $0.36 per share compared to $0.56 per share a year earlier.
Source Fool.com
