Investment Technology Group, Inc. (ITG) Downgraded by BidaskClub

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

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Investment Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 18th. ValuEngine upgraded shares of 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 issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.50.

Shares of Investment Technology Group (ITG) traded down 0.45% during mid-day trading on Monday, hitting $20.09. The company’s stock had a trading volume of 141,204 shares. The stock’s 50 day moving average price is $21.32 and its 200 day moving average price is $20.54. Investment Technology Group has a 52-week low of $15.04 and a 52-week high of $22.69. The company’s market cap is $665.48 million.

Investment Technology Group (NYSE:ITG) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.14 earnings per share for the quarter, missing the 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 analyst estimates of $124 million. During the same quarter last year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts forecast that Investment Technology Group will post $0.59 EPS for the current year.

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Several hedge funds have recently made changes to their positions in ITG. State of Alaska Department of Revenue increased its stake 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 increased its stake 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. C M Bidwell & Associates Ltd. purchased a new stake in shares of Investment Technology Group during the second quarter worth about $159,000. SG Americas Securities LLC increased its stake 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. Finally, Louisiana State Employees Retirement System increased its stake 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. Institutional investors and hedge funds own 86.66% of the company’s stock.

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.

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