Investment Technology Group Inc. (ITG) Shares Up 3.6%
Investment Technology Group Inc. (NYSE:ITG) shot up 3.6% during mid-day trading on Tuesday . The stock traded as high as $18.14 and last traded at $18.13, with a volume of 176,019 shares traded. The stock had previously closed at $17.50.
Several research firms have recently issued reports on ITG. JPMorgan Chase & Co. lowered shares of Investment Technology Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $24.00 to $23.00 in a research report on Thursday, April 7th. Credit Suisse Group AG reissued an “outperform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Investment Technology Group in a research report on Tuesday, March 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Investment Technology Group presently has an average rating of “Buy” and an average price target of $20.75.
The stock has a market capitalization of $595.42 million and a price-to-earnings ratio of 8.49. The firm’s 50-day moving average is $16.97 and its 200 day moving average is $18.47.
Investment Technology Group (NYSE:ITG) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company had revenue of $124.66 million for the quarter, compared to analyst estimates of $123.45 million. During the same quarter last year, the company earned $0.47 EPS. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. Analysts anticipate that Investment Technology Group Inc. will post $0.17 EPS for the current fiscal year.
A number of hedge funds and institutional investors recently modified their holdings of ITG. First Trust Advisors LP increased its position in shares of Investment Technology Group by 194.2% in the fourth quarter. First Trust Advisors LP now owns 150,141 shares of the company’s stock valued at $2,555,000 after buying an additional 99,099 shares during the period. Sei Investments Co. bought a new position in shares of Investment Technology Group during the fourth quarter valued at about $1,707,000. California State Teachers Retirement System increased its position in shares of Investment Technology Group by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 63,396 shares of the company’s stock valued at $1,079,000 after buying an additional 1,083 shares during the period. Finally, Morgan Stanley increased its position in shares of Investment Technology Group by 25.0% in the fourth quarter. Morgan Stanley now owns 61,642 shares of the company’s stock valued at $1,049,000 after buying an additional 12,346 shares during the period.
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