ITG Inc. (NASDAQ:ITG) Short Interest Update

ITG Inc. (NASDAQ:ITG) was the recipient of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 295,976 shares, a growth of 52.7% from the July 30th total of 193,798 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 165,648 shares, the days-to-cover ratio is presently 1.8 days.

ITG Trading Up 0.2%

ITG stock traded up $0.03 during midday trading on Tuesday, hitting $12.20. 2,240 shares of the company’s stock were exchanged, compared to its average volume of 356,333. ITG has a one year low of $10.37 and a one year high of $19.26. The stock’s fifty day moving average is $12.85.

ITG (NASDAQ:ITG) last posted its earnings results on Monday, June 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $333.92 million during the quarter. On average, analysts forecast that ITG will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of ITG from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Robert W. Baird initiated coverage on shares of ITG in a research note on Monday, July 27th. They set an “outperform” rating and a $19.00 price target for the company. Citigroup began coverage on shares of ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $17.00 price objective on the stock. Zacks Research raised shares of ITG to a “hold” rating in a report on Tuesday, July 28th. Finally, UBS Group assumed coverage on shares of ITG in a research report on Monday, July 27th. They set a “buy” rating and a $18.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $17.56.

ITG Company Profile

ITG, Inc was a financial services company best known for its institutional brokerage and trading services. The firm provided execution, electronic trading, and related brokerage solutions designed to help asset managers and other institutional investors trade securities more efficiently.

The company also offered portfolio trading, agency trading, and workflow tools that supported the investment process from order generation through execution. Over time, ITG developed technology-enabled services aimed at improving trading performance, transparency, and access to liquidity across equity markets.

ITG served institutional clients in the United States and other major financial markets.