Zacks Investment Research cut shares of Investment Technology Group (NYSE:ITG) from a hold rating to a sell rating in a research note published on Wednesday.

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. “

Separately, ValuEngine lowered Investment Technology Group from a hold rating to a sell rating in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. The company has a consensus rating of Sell and a consensus target price of $23.00.

Investment Technology Group (ITG) traded up $0.11 during trading on Wednesday, hitting $21.23. The company had a trading volume of 181,355 shares, compared to its average volume of 198,670. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.52 and a current ratio of 1.53. The firm has a market capitalization of $698.24, a price-to-earnings ratio of -22.35 and a beta of 1.37. Investment Technology Group has a one year low of $17.63 and a one year high of $23.96.

Investment Technology Group (NYSE:ITG) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.14). The company had revenue of $114.50 million during 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%. Investment Technology Group’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. analysts predict that Investment Technology Group will post 0.23 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Investment Technology Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 2,888,402 shares of the financial services provider’s stock valued at $61,349,000 after buying an additional 56,123 shares during the period. Frontier Capital Management Co. LLC lifted its stake in Investment Technology Group by 2.2% in 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 lifted its stake in Investment Technology Group by 2.4% in 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 lifted its stake in Investment Technology Group by 16.0% in 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 lifted its stake in Investment Technology Group by 2.4% in 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 currently owned by hedge funds and other 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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