Intercontinental Hotels Group (NYSE:IHG) Sees Significant Drop in Short Interest

Intercontinental Hotels Group (NYSE:IHG) was the recipient of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 781,640 shares, a decrease of 31.5% from the January 15th total of 1,140,275 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 227,078 shares, the days-to-cover ratio is currently 3.4 days. Based on an average daily trading volume, of 227,078 shares, the days-to-cover ratio is currently 3.4 days. Approximately 0.5% of the company’s shares are sold short.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Intercontinental Hotels Group Stock Up 0.1%

NYSE:IHG traded up $0.16 during mid-day trading on Friday, reaching $146.03. The company’s stock had a trading volume of 324,812 shares, compared to its average volume of 236,233. Intercontinental Hotels Group has a 1 year low of $94.78 and a 1 year high of $150.89. The stock has a fifty day moving average of $139.83 and a 200-day moving average of $129.36.

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new position in Intercontinental Hotels Group in the fourth quarter valued at about $201,000. Stifel Financial Corp boosted its holdings in shares of Intercontinental Hotels Group by 9.5% in the 4th quarter. Stifel Financial Corp now owns 25,762 shares of the company’s stock valued at $3,628,000 after buying an additional 2,225 shares in the last quarter. Morgan Stanley grew its position in shares of Intercontinental Hotels Group by 3.9% in the 4th quarter. Morgan Stanley now owns 764,049 shares of the company’s stock worth $107,601,000 after buying an additional 28,526 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Intercontinental Hotels Group by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,388 shares of the company’s stock worth $4,702,000 after acquiring an additional 3,831 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in shares of Intercontinental Hotels Group by 9.1% during the 4th quarter. Ieq Capital LLC now owns 3,734 shares of the company’s stock worth $526,000 after acquiring an additional 312 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.