InterContinental Hotels Group PLC (NYSE:IHG) Sees Significant Increase in Short Interest

InterContinental Hotels Group PLC (NYSE:IHG) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 296,000 shares, an increase of 6.4% from the October 31st total of 278,200 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 153,200 shares, the short-interest ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IHG shares. Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On InterContinental Hotels Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC acquired a new stake in shares of InterContinental Hotels Group in the second quarter valued at about $36,000. EverSource Wealth Advisors LLC increased its stake in shares of InterContinental Hotels Group by 65.2% in the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock valued at $48,000 after buying an additional 191 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of InterContinental Hotels Group in the second quarter valued at about $50,000. Assetmark Inc. increased its stake in shares of InterContinental Hotels Group by 130.9% in the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after buying an additional 436 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in InterContinental Hotels Group during the third quarter worth approximately $86,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

InterContinental Hotels Group Price Performance

Shares of IHG stock opened at $128.70 on Thursday. The stock has a 50-day moving average of $116.44 and a 200-day moving average of $107.18. InterContinental Hotels Group has a 1-year low of $80.61 and a 1-year high of $129.30.

InterContinental Hotels Group Company Profile

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.