Investment Technology Group (ITG) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Investment Technology Group (NYSE:ITG) from a strong sell rating to a hold rating in a research report sent to investors 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 issued reports on ITG. Rosenblatt Securities started coverage on shares of Investment Technology Group in a report on Tuesday, September 12th. They set a neutral rating and a $21.00 target price for the company. ValuEngine cut shares of Investment Technology Group from a hold rating to a sell rating in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company has a consensus rating of Hold and an average target price of $23.00.

Shares of Investment Technology Group (NYSE ITG) traded down $0.02 during trading on Thursday, hitting $19.90. 298,848 shares of the company traded hands, compared to its average volume of 233,640. The company has a current ratio of 1.53, a quick ratio of 1.52 and a debt-to-equity ratio of 0.01. Investment Technology Group has a 12-month low of $17.63 and a 12-month high of $23.96. The stock has a market capitalization of $657.91, a PE ratio of -20.95 and a beta of 1.37.

Investment Technology Group (NYSE:ITG) last issued its earnings results on Wednesday, November 1st. The financial services provider reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.14). Investment Technology Group had a positive return on equity of 2.92% and a negative net margin of 6.57%. The business had revenue of $114.50 million for the quarter, compared to analysts’ expectations of $112.50 million. During the same period last year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. analysts predict that Investment Technology Group will post 0.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were issued a dividend of $0.07 per share. The ex-dividend date was Monday, November 27th. This represents a $0.28 annualized dividend and a dividend yield of 1.41%. Investment Technology Group’s dividend payout ratio (DPR) is presently -29.47%.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Investment Technology Group by 2.0% during the second quarter. Vanguard Group Inc. now owns 2,888,402 shares of the financial services provider’s stock worth $61,349,000 after purchasing an additional 56,123 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in Investment Technology Group by 2.2% during the third quarter. Frontier Capital Management Co. LLC now owns 2,006,544 shares of the financial services provider’s stock valued at $44,425,000 after buying an additional 42,561 shares during the period. Dimensional Fund Advisors LP grew its position in Investment Technology Group by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,569,775 shares of the financial services provider’s stock valued at $33,342,000 after buying an additional 36,514 shares during the period. FMR LLC grew its position in 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 valued at $22,342,000 after buying an additional 144,800 shares during the period. Finally, State Street Corp grew its position in Investment Technology Group by 2.4% during the second quarter. State Street Corp now owns 808,501 shares of the financial services provider’s stock valued at $17,174,000 after buying an additional 19,319 shares during the period. 86.57% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Investment Technology Group (ITG) Lifted to “Hold” at Zacks Investment Research” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://www.com-unik.info/2018/01/07/investment-technology-group-itg-lifted-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Investment Technology Group (ITG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Investment Technology Group? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Investment Technology Group and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit