Investment Technology Group (ITG) Short Interest Down 51.1% in January

Investment Technology Group (NYSE:ITG) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 288,582 shares, a drop of 51.1% from the January 12th total of 590,179 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 268,357 shares, the short-interest ratio is presently 1.1 days.

Shares of Investment Technology Group (NYSE:ITG) opened at $19.83 on Thursday. The firm has a market cap of $647.00, a P/E ratio of -16.66 and a beta of 1.35. The company has a current ratio of 1.51, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01. Investment Technology Group has a 1 year low of $17.63 and a 1 year high of $23.96.

Investment Technology Group (NYSE:ITG) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The company had revenue of $126.70 million during the quarter, compared to the consensus estimate of $125.70 million. Investment Technology Group had a negative net margin of 8.15% and a positive return on equity of 2.66%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. research analysts forecast that Investment Technology Group will post 1.01 EPS for the current fiscal year.

Several equities research analysts recently weighed in on ITG shares. Zacks Investment Research raised shares of Investment Technology Group from a “sell” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, January 25th. ValuEngine downgraded shares of Investment Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Investment Technology Group currently has a consensus rating of “Sell” and an average target price of $22.50.

Several institutional investors and hedge funds have recently made changes to their positions in ITG. BlackRock Inc. increased its position in shares of Investment Technology Group by 23.0% during the fourth quarter. BlackRock Inc. now owns 4,326,982 shares of the financial services provider’s stock valued at $83,296,000 after acquiring an additional 809,536 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC increased its position in shares of Investment Technology Group by 93.6% during the fourth quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,374,777 shares of the financial services provider’s stock valued at $26,464,000 after acquiring an additional 664,668 shares in the last quarter. Cramer Rosenthal Mcglynn LLC increased its position in shares of Investment Technology Group by 27.5% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,011,834 shares of the financial services provider’s stock valued at $19,478,000 after acquiring an additional 218,194 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Investment Technology Group during the fourth quarter valued at approximately $3,817,000. Finally, FMR LLC increased its position in shares of 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 acquiring an additional 144,800 shares in the last quarter. 83.52% of the stock is owned by institutional investors.

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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.

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