ITG Inc. (NASDAQ:ITG) Short Interest Update

Key Points

• ITG’s short interest fell 55.7% to 193,798 shares as of July 31, representing about 0.2% of shares outstanding and a short-interest ratio of 0.4 days.
• ITG shares rose 2.0% to $12.97, while the company’s latest quarter included a loss of $0.08 per share on revenue of $333.92 million. Analysts expect full-year EPS of $0.51.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of $17.56; four firms recently initiated coverage with Buy ratings and targets ranging from $16 to $20.

ITG Inc. (NASDAQ:ITG - Get Free Report) was the target of a significant decrease in short interest during the month of 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 daily volume of 540,806 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company's shares are sold short.

ITG Stock Up 2.0%

Shares of ITG stock traded up $0.26 during midday trading 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 1-year low of $10.37 and a 1-year high of $19.26.

ITG (NASDAQ:ITG - Get Free Report) last posted its quarterly earnings results on Monday, June 22nd. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $333.92 million during the quarter. As a group, equities research analysts expect that ITG will post 0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ITG shares. Vertical Research assumed coverage on ITG in a research note on Monday, July 27th. They issued a "buy" rating and a $20.00 price target on the stock. UBS Group initiated coverage on shares of ITG in a research note on Monday, July 27th. They set a "buy" rating and a $18.00 price objective for the company. Citigroup began coverage on shares of ITG in a report on Monday, July 27th. They issued a "buy" rating and a $17.00 target price for the company. Truist Financial started coverage on shares of ITG in a research report on Monday, July 27th. They issued a "buy" rating and a $16.00 target price on the stock. Finally, Wall Street Zen upgraded shares of ITG to a "hold" rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $17.56.

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.

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