Pictet Asset Management Holding SA Makes New $5.13 Million Investment in ITG Inc. $ITG

Pictet Asset Management Holding SA bought a new stake in ITG Inc. (NASDAQ:ITG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 659,623 shares of the company’s stock, valued at approximately $5,129,000. Pictet Asset Management Holding SA owned 0.53% of ITG at the end of the most recent reporting period.

Analysts Set New Price Targets

Several analysts have weighed in on ITG shares. Citigroup dropped their price target on ITG from $17.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. UBS Group assumed coverage on ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $18.00 price objective for the company. Vertical Research began coverage on ITG in a report on Monday, July 27th. They set a “buy” rating and a $20.00 target price for the company. Morgan Stanley dropped their target price on ITG from $18.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus dropped their target price on ITG from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

ITG News Roundup

Here’s some of the latest news about ITG:

• Positive Sentiment: Despite lowering its target to $11 from $14, Truist reaffirmed its Buy rating. The new target remains well above the $5.68 reference price. Truist Cuts Price Target on ITG to $11 From $14, Keeps Buy Rating
• Positive Sentiment: Other firms also retained positive ratings: Stifel kept Buy with an $8 target, Bank of America kept Buy at $13, Baird kept Outperform at $10, and Morgan Stanley kept Overweight at $9. These targets remain above the reference share price. Bank of America Price Target
• Neutral Sentiment: ITG reported quarterly EPS of $0.22 and revenue of $461.53 million. The available report does not provide comparisons with estimates or prior-year results to indicate whether the figures were a surprise. ITG Quarterly Earnings Results

ITG Stock Performance

Shares of ITG stock traded up $0.38 during trading on Friday, hitting $5.68. 1,652,234 shares of the company’s stock were exchanged, compared to its average volume of 834,312. The company has a market cap of $705.23 million and a PE ratio of 71.00. The firm’s 50-day simple moving average is $7.93. ITG Inc. has a 52-week low of $4.11 and a 52-week high of $19.26. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 23.48.

ITG (NASDAQ:ITG) last posted its quarterly earnings results on Wednesday, November 11th. The company reported $0.22 EPS for the quarter. The business had revenue of $461.53 million during the quarter. On average, equities analysts anticipate that ITG Inc. will post 0.54 earnings per share for the current fiscal year.

ITG Company Profile

Investment Technology Group, Inc. (ITG) was a financial technology and agency brokerage firm serving institutional investors. Its services included trade execution, execution algorithms, trading analytics and tools designed to help clients manage and evaluate their equity trading. ITG’s products included POSIT, an alternative trading system that matched buyers and sellers, and Triton, an execution management system. The company also provided transaction-cost analysis and related research to help clients assess trading performance.