Investment Technology Group (ITG) Stock Rating Upgraded by Zacks Investment Research
Investment Technology Group (NYSE:ITG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Investment Technology Group is one of the leading providers of technology-based equity trading services and transaction research to institutional investors and brokers. ITG’s services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. They offer a fully-integrated family of advanced trading services encompassing three business lines: POSIT, Client-Site Trading Products, and Electronic Trading Desk. “
Several other research analysts have also recently weighed in on ITG. ValuEngine cut shares of Investment Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Rosenblatt Securities began coverage on shares of Investment Technology Group in a research report on Tuesday, September 12th. They set a “neutral” rating and a $21.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.00.
Investment Technology Group (NYSE:ITG) opened at $19.90 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.52 and a debt-to-equity ratio of 0.01. The firm has a market cap of $658.57, a PE ratio of 56.91 and a beta of 1.37. Investment Technology Group has a 1 year low of $17.63 and a 1 year high of $23.96.
Investment Technology Group (NYSE:ITG) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.14). The firm had revenue of $114.50 million for the quarter, compared to analyst estimates of $112.50 million. Investment Technology Group had a negative net margin of 6.57% and a positive return on equity of 2.92%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. analysts expect that Investment Technology Group will post 0.23 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. C M Bidwell & Associates Ltd. acquired a new position in Investment Technology Group in the second quarter valued at about $159,000. SG Americas Securities LLC acquired a new position in Investment Technology Group in the third quarter valued at about $179,000. Crossmark Global Holdings Inc. acquired a new position in Investment Technology Group in the third quarter valued at about $228,000. Trexquant Investment LP acquired a new position in Investment Technology Group in the third quarter valued at about $275,000. Finally, Municipal Employees Retirement System of Michigan lifted its position in Investment Technology Group by 67.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,470 shares of the financial services provider’s stock valued at $276,000 after buying an additional 5,020 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.
Investment Technology Group Company Profile
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.
Receive News & Ratings for Investment Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investment Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.