Investment Technology Group, Inc. (NYSE:ITG) traded down NaN during mid-day trading on Wednesday . The stock traded as low as $19.50 and last traded at $0.00. 1,104,251 shares changed hands during mid-day trading, an increase of Infinity from the average session volume of 0 shares.
Several equities research analysts have recently issued reports on the company. BidaskClub raised Investment Technology Group from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research lowered Investment Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 18th. TheStreet raised Investment Technology Group from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. Finally, Rosenblatt Securities assumed coverage on Investment Technology Group in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $21.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Investment Technology Group has an average rating of “Hold” and an average target price of $22.00.
Investment Technology Group (NYSE:ITG) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.27). Investment Technology Group had a positive return on equity of 3.08% and a negative net margin of 1.77%. The firm had revenue of $114.50 million for the quarter, compared to analyst estimates of $112.50 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in ITG. Vanguard Group Inc. raised its stake in shares of Investment Technology Group by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,832,279 shares of the financial services provider’s stock valued at $57,353,000 after acquiring an additional 150,416 shares in the last quarter. FMR LLC grew its holdings in shares of Investment Technology Group by 16.0% during the second quarter. FMR LLC now owns 1,051,880 shares of the financial services provider’s stock worth $22,342,000 after purchasing an additional 144,800 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Investment Technology Group during the third quarter worth about $2,537,000. Shell Asset Management Co. grew its holdings in shares of Investment Technology Group by 200.9% during the third quarter. Shell Asset Management Co. now owns 131,909 shares of the financial services provider’s stock worth $2,079,000 after purchasing an additional 88,076 shares during the last quarter. Finally, Penn Capital Management Co. Inc. purchased a new position in shares of Investment Technology Group during the second quarter worth about $1,771,000. Institutional investors and hedge funds own 87.99% of the company’s stock.
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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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