Investment Technology Group Inc. (ITG) Sees Large Volume Increase
Shares of Investment Technology Group Inc. (NYSE:ITG) saw an uptick in trading volume on Thursday . 434,882 shares traded hands during trading, an increase of 71% from the previous session’s volume of 253,871 shares.The stock last traded at $17.89 and had previously closed at $18.15.
Several research firms have recently issued reports on ITG. JPMorgan Chase & Co. dropped their price objective on shares of Investment Technology Group from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday. Credit Suisse Group AG reissued a “buy” rating and issued a $18.00 target price on shares of Investment Technology Group in a research note on Wednesday, June 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.25.
The firm has a market cap of $550.72 million and a price-to-earnings ratio of 7.26. The firm’s 50 day moving average price is $16.90 and its 200-day moving average price is $18.49.
Investment Technology Group (NYSE:ITG) last released its earnings results on Thursday, July 28th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.01. The company had revenue of $120.60 million for the quarter, compared to analyst estimates of $115.73 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. Equities analysts expect that Investment Technology Group Inc. will post $0.19 EPS for the current year.
A number of hedge funds have recently made changes to their positions in ITG. Morgan Stanley boosted its stake 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 worth $1,049,000 after buying an additional 12,346 shares in the last quarter. California State Teachers Retirement System boosted its stake 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 worth $1,079,000 after buying an additional 1,083 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Investment Technology Group during the fourth quarter worth approximately $1,707,000. Finally, First Trust Advisors LP boosted its stake 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 worth $2,555,000 after buying an additional 99,099 shares in the last quarter.
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