Essex Investment Management Co. LLC acquired a new stake in Investment Technology Group (NYSE:ITG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 22,895 shares of the financial services provider’s stock, valued at approximately $496,000.
A number of other large investors have also recently bought and sold shares of the business. Millennium Management LLC increased its stake in Investment Technology Group by 103.3% in the 2nd quarter. Millennium Management LLC now owns 302,533 shares of the financial services provider’s stock valued at $6,329,000 after buying an additional 153,755 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Investment Technology Group in the 2nd quarter valued at about $297,000. Point72 Asset Management L.P. purchased a new stake in Investment Technology Group in the 2nd quarter valued at about $692,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Investment Technology Group during the 2nd quarter valued at approximately $305,000. Finally, Raymond James & Associates bought a new position in shares of Investment Technology Group during the 2nd quarter valued at approximately $228,000. Hedge funds and other institutional investors own 87.16% of the company’s stock.
A number of research firms have recently weighed in on ITG. Zacks Investment Research downgraded shares of Investment Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 5th. ValuEngine raised shares of Investment Technology Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. Finally, JPMorgan Chase & Co. raised shares of Investment Technology Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $24.00 to $25.00 in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $25.00.
Investment Technology Group (NYSE:ITG) last released its earnings results on Wednesday, August 8th. The financial services provider reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Investment Technology Group had a negative net margin of 9.58% and a positive return on equity of 5.29%. The firm had revenue of $128.50 million during the quarter, compared to the consensus estimate of $126.40 million. During the same period in the prior year, the firm earned $0.14 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts expect that Investment Technology Group will post 1.01 EPS for the current fiscal year.
About Investment Technology Group
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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