Investment Technology Group (NYSE:ITG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Investment Technology Group is one of the leading providers of technology-based equity trading services and transaction research to institutional investors and brokers. ITG’s services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. They offer a fully-integrated family of advanced trading services encompassing three business lines: POSIT, Client-Site Trading Products, and Electronic Trading Desk. “

Separately, ValuEngine cut Investment Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Investment Technology Group currently has an average rating of “Sell” and a consensus price target of $23.00.

Investment Technology Group (NYSE:ITG) traded down $0.42 on Wednesday, hitting $21.12. The stock had a trading volume of 187,700 shares, compared to its average volume of 256,275. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.53 and a quick ratio of 1.52. Investment Technology Group has a twelve month low of $17.63 and a twelve month high of $23.96. The firm has a market capitalization of $712.13, a PE ratio of -22.23 and a beta of 1.37.

Investment Technology Group (NYSE:ITG) last posted its earnings results on Wednesday, November 1st. The financial services provider reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.14). Investment Technology Group had a positive return on equity of 2.92% and a negative net margin of 6.57%. The firm had revenue of $114.50 million for the quarter, compared to analyst estimates of $112.50 million. During the same quarter last year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. equities research analysts forecast that Investment Technology Group will post 0.23 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of ITG. C M Bidwell & Associates Ltd. acquired a new position in Investment Technology Group in the 2nd quarter valued at about $159,000. SG Americas Securities LLC acquired a new position in Investment Technology Group in the 3rd quarter valued at about $179,000. Crossmark Global Holdings Inc. acquired a new position in Investment Technology Group in the 3rd quarter valued at about $228,000. Trexquant Investment LP acquired a new position in Investment Technology Group in the 3rd quarter valued at about $275,000. Finally, Municipal Employees Retirement System of Michigan increased its position in Investment Technology Group by 67.4% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,470 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 5,020 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

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About Investment Technology Group

Investment Technology Group, Inc (ITG) is a financial technology company that helps brokers and asset managers improve returns for investors around the world. The Company operates through four segments: U.S. Operations, Canadian Operations, European Operations and Asia Pacific Operations. These four segments provide categories of products and services, such as Execution Services, Workflow Technology and Analytics.

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