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Investment Technology Group (ITG) Stock Rating Lowered by Zacks Investment Research

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Investment Technology Group (NYSE:ITG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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. “ Get Investment Technology Group alerts:

Separately, ValuEngine raised Investment Technology Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 21st. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. Investment Technology Group has an average rating of “Buy” and a consensus price target of $25.00. Shares of NYSE ITG opened at $30.07 on Tuesday. The company has a market capitalization of $993.88 million, a P/E ratio of 100.23 and a beta of 1.06. Investment Technology Group has a 12-month low of $18.67 and a 12-month high of $30.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.37 and a current ratio of 1.38.

Investment Technology Group (NYSE:ITG) last announced its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $120.77 million for the quarter, compared to the consensus estimate of $119.97 million. Investment Technology Group had a positive return on equity of 7.85% and a negative net margin of 0.17%. On average, research analysts forecast that Investment Technology Group will post 1.01 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Investment Technology Group by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,143,135 shares of the financial services provider’s stock valued at $68,080,000 after acquiring an additional 71,818 shares in the last quarter. Legal & General Group Plc raised its stake in Investment Technology Group by 7.0% during the 3rd quarter. Legal & General Group Plc now owns 78,464 shares of the financial services provider’s stock valued at $1,690,000 after acquiring an additional 5,121 shares in the last quarter. Teachers Advisors LLC raised its stake in Investment Technology Group by 5.3% during the 3rd quarter. Teachers Advisors LLC now owns 63,519 shares of the financial services provider’s stock valued at $1,376,000 after acquiring an additional 3,210 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Investment Technology Group by 273.2% during the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 53,000 shares of the financial services provider’s stock valued at $1,148,000 after acquiring an additional 38,800 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Investment Technology Group by 1.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,518,998 shares of the financial services provider’s stock valued at $32,901,000 after acquiring an additional 28,665 shares in the last quarter. 87.25% of the stock is currently owned by hedge funds and other institutional investors.

Investment Technology Group Company Profile

Investment Technology Group, Inc operates as a financial technology company in the United States, Canada, Europe, and the Asia Pacific. The company offers various solutions for asset managers and broker-dealers in the areas of execution services, workflow technology, and analytics that provide trade execution services and solutions for portfolio management, as well as pre-trade analytics, and post-trade analytics and processing.

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