Intercontinental Hotels Group (NYSE:IHG) Short Interest Update

Intercontinental Hotels Group (NYSE:IHG) was the recipient of a significant decrease in short interest in February. As of February 13th, there was short interest totaling 634,389 shares, a decrease of 18.8% from the January 29th total of 781,640 shares. Based on an average daily trading volume, of 269,682 shares, the short-interest ratio is presently 2.4 days. Currently, 0.4% of the shares of the company are sold short. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 269,682 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

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

Intercontinental Hotels Group Trading Down 0.3%

Shares of Intercontinental Hotels Group stock traded down $0.43 on Wednesday, hitting $134.96. 228,166 shares of the company were exchanged, compared to its average volume of 320,012. The company has a 50-day moving average price of $140.41 and a 200 day moving average price of $131.36. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $150.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IHG. CCLA Investment Management purchased a new position in Intercontinental Hotels Group during the fourth quarter worth about $114,306,000. CIBC Bancorp USA Inc. acquired a new position in Intercontinental Hotels Group in the third quarter valued at approximately $42,374,000. JPMorgan Chase & Co. lifted its holdings in Intercontinental Hotels Group by 125.7% in the second quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after acquiring an additional 251,647 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Intercontinental Hotels Group in the fourth quarter worth approximately $26,758,000. Finally, Lazard Asset Management LLC increased its stake in Intercontinental Hotels Group by 98.4% during the second quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after acquiring an additional 176,502 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

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.