ITG Inc. (NASDAQ:ITG) Sees Significant Drop in Short Interest

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group started coverage on ITG in a research report on Monday, July 27th. They set a “buy” rating and a $18.00 price target on the stock. Zacks Research raised ITG to a “hold” rating in a research report on Tuesday, July 28th. Citigroup assumed coverage on shares of ITG in a report on Monday, July 27th. They set a “buy” rating and a $17.00 target price on the stock. Robert W. Baird initiated coverage on shares of ITG in a research report on Monday, July 27th. They issued an “outperform” rating and a $19.00 target price on the stock. Finally, Vertical Research assumed coverage on shares of ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $20.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $17.56.

ITG Stock Up 2.0%

ITG stock traded up $0.26 on Friday, reaching $12.97. 92,101 shares of the company traded hands, compared to its average volume of 381,312. ITG has a one year low of $10.37 and a one year high of $19.26.

ITG (NASDAQ:ITG) last released its earnings results on Monday, June 22nd. The company reported ($0.08) EPS for the quarter. The business had revenue of $333.92 million during the quarter. As a group, sell-side analysts expect that ITG will post 0.51 EPS for the current fiscal year.

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.