BidaskClub downgraded shares of Investment Technology Group, Inc. (NYSE:ITG) from a sell rating to a strong sell rating in a research note published on Sunday morning.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Investment Technology Group from a hold rating to a sell rating in a research note on Tuesday, July 11th. TheStreet upgraded Investment Technology Group from a c rating to a b- rating in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded Investment Technology Group from a sell rating to a hold rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average price target of $22.50.

Shares of Investment Technology Group (NYSE ITG) traded up 1.15% during midday trading on Friday, hitting $21.06. 99,154 shares of the stock were exchanged. The company’s market cap is $697.61 million. The firm has a 50 day moving average of $21.67 and a 200-day moving average of $20.53. Investment Technology Group has a one year low of $15.04 and a one year high of $22.69.

Investment Technology Group (NYSE:ITG) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Investment Technology Group had a positive return on equity of 3.08% and a negative net margin of 1.77%. The company had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $124 million. During the same quarter last year, the company earned ($0.02) EPS. Investment Technology Group’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that Investment Technology Group will post $0.59 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its position in shares of Investment Technology Group by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 6,188 shares of the financial services provider’s stock worth $131,000 after buying an additional 2,698 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Investment Technology Group by 9.2% in the first quarter. Mason Street Advisors LLC now owns 7,384 shares of the financial services provider’s stock worth $150,000 after buying an additional 623 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Investment Technology Group by 8.6% in the first quarter. SG Americas Securities LLC now owns 11,308 shares of the financial services provider’s stock worth $229,000 after buying an additional 893 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Investment Technology Group by 4.0% in the first quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the financial services provider’s stock worth $261,000 after buying an additional 500 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Investment Technology Group by 3.6% in the first quarter. BNP Paribas Arbitrage SA now owns 15,131 shares of the financial services provider’s stock worth $306,000 after buying an additional 519 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

About Investment Technology Group

Investment Technology Group, Inc (ITG) is a financial technology company that helps brokers and asset managers improve returns for investors around the world. The Company operates through four segments: U.S. Operations, Canadian Operations, European Operations and Asia Pacific Operations. These four segments provide categories of products and services, such as Execution Services, Workflow Technology and Analytics.

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