ITG Inc. (NASDAQ:ITG) Short Interest Update

ITG Inc. (NASDAQ:ITG) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 193,798 shares, a decline of 55.7% from the July 15th total of 437,461 shares. Based on an average daily volume of 540,806 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms have weighed in on ITG. KeyCorp assumed coverage on shares of ITG in a research note on Monday, July 27th. They issued an “overweight” rating and a $17.00 price objective on the stock. Robert W. Baird assumed coverage on ITG in a report on Monday, July 27th. They set an “outperform” rating and a $19.00 price objective for the company. Stifel Nicolaus initiated coverage on ITG in a research report on Monday, July 27th. They set a “buy” rating and a $16.00 price objective for the company. Vertical Research began coverage on ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Citigroup started coverage on ITG in a research report on Monday, July 27th. They issued a “buy” rating and a $17.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, ITG has an average rating of “Buy” and an average price target of $17.56.

ITG Price Performance

ITG stock traded up $0.26 during trading hours on Friday, hitting $12.97. The company’s stock had a trading volume of 92,101 shares, compared to its average volume of 381,312. ITG has a 12 month low of $10.37 and a 12 month high of $19.26.

ITG (NASDAQ:ITG) last released its quarterly earnings results on Monday, June 22nd. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $333.92 million for the quarter. Research analysts anticipate that ITG will post 0.51 EPS for the current year.

About ITG

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.