Zacks Investment Research upgraded shares of Investment Technology Group (NYSE:ITG) from a strong sell rating to a hold rating in a research note released on Thursday morning.
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 brokerages have also recently issued reports on ITG. Rosenblatt Securities began coverage on Investment Technology Group in a report on Tuesday, September 12th. They set a neutral rating and a $21.00 price objective for the company. ValuEngine downgraded Investment Technology Group from a hold rating to a sell rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. Investment Technology Group currently has a consensus rating of Hold and a consensus price target of $23.00.
Investment Technology Group (NYSE ITG) opened at $19.90 on Thursday. The stock has a market capitalization of $657.91, a price-to-earnings ratio of -20.95 and a beta of 1.37. Investment Technology Group has a 1-year low of $17.63 and a 1-year high of $23.96. 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 (NYSE:ITG) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.14). The firm had revenue of $114.50 million for the quarter, compared to analyst estimates of $112.50 million. Investment Technology Group had a positive return on equity of 2.92% and a negative net margin of 6.57%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. analysts predict that Investment Technology Group will post 0.23 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Monday, November 27th. Investment Technology Group’s payout ratio is -29.47%.
A number of institutional investors have recently added to or reduced their stakes in ITG. C M Bidwell & Associates Ltd. purchased a new stake in shares of Investment Technology Group in the second quarter valued at $159,000. SG Americas Securities LLC purchased a new stake in shares of Investment Technology Group in the third quarter valued at $179,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Investment Technology Group in the third quarter valued at $228,000. Trexquant Investment LP purchased a new stake in shares of Investment Technology Group in the third quarter valued at $275,000. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Investment Technology Group by 67.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,470 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 5,020 shares during the period. 86.57% of the stock is owned by institutional investors.
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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.
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