Investment Technology Group, Inc. (NYSE:ITG) Rating Lowered to Sell at ValuEngine

Investment Technology Group, Inc. (NYSE:ITG) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday, November 7th.

ITG has been the topic of a number of other reports. BidaskClub upgraded shares of Investment Technology Group from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered shares of Investment Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 18th. TheStreet upgraded shares of Investment Technology Group from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. Finally, 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 objective on the stock. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. The company currently has an average rating of “Sell” and an average target price of $23.00.

Investment Technology Group (NYSE:ITG) traded up $0.13 during trading hours on Tuesday, hitting $18.36. 153,854 shares of the company were exchanged, compared to its average volume of 371,718. The stock has a market cap of $607.00, a PE ratio of 52.46 and a beta of 1.48. Investment Technology Group has a 1 year low of $17.75 and a 1 year high of $23.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.53 and a quick ratio of 1.52.

Investment Technology Group (NYSE:ITG) last released its earnings results on Wednesday, November 1st. The financial services provider reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $112.50 million. During the same quarter last year, the company earned ($0.08) earnings per share. Investment Technology Group’s quarterly revenue was up 9.9% compared to the same quarter last year. equities analysts predict that Investment Technology Group will post 0.23 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its position in Investment Technology Group by 77.3% during 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 acquiring an additional 2,698 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Investment Technology Group in the second quarter valued at approximately $159,000. SG Americas Securities LLC purchased a new stake in Investment Technology Group during the third quarter worth approximately $179,000. Crossmark Global Holdings Inc. purchased a new stake in Investment Technology Group during the third quarter worth approximately $228,000. Finally, Trexquant Investment LP purchased a new stake in Investment Technology Group during the third quarter worth approximately $275,000. Institutional investors own 84.99% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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