BidaskClub Downgrades Investment Technology Group, Inc. (ITG) to Sell

Investment Technology Group, Inc. (NYSE:ITG) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, July 31st.

ITG has been the topic of a number of other research reports. Zacks Investment Research raised Investment Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 4th. ValuEngine raised Investment Technology Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Investment Technology Group currently has a consensus rating of “Hold” and a consensus price target of $22.50.

Investment Technology Group (NYSE ITG) opened at 20.41 on Monday. The stock’s 50 day moving average is $21.45 and its 200-day moving average is $20.54. Investment Technology Group has a 12 month low of $15.04 and a 12 month high of $22.69. The stock’s market capitalization is $676.08 million.

Investment Technology Group (NYSE:ITG) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $121.60 million during the quarter, compared to analyst estimates of $124 million. Investment Technology Group had a negative net margin of 1.77% and a positive return on equity of 3.08%. Investment Technology Group’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) EPS. On average, equities research analysts expect that Investment Technology Group will post $0.59 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased 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 during the period. Mason Street Advisors LLC increased 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 during the period. SG Americas Securities LLC increased 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 during the period. Louisiana State Employees Retirement System increased 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 during the period. Finally, BNP Paribas Arbitrage SA increased 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 during the period. 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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