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

InterContinental Hotels Group PLC (NYSE:IHG) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 351,600 shares, a growth of 15.2% from the January 15th total of 305,100 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 126,500 shares, the short-interest ratio is currently 2.8 days.

Institutional Investors Weigh In On InterContinental Hotels Group

A number of large investors have recently bought and sold shares of IHG. Sanctuary Advisors LLC acquired a new stake in InterContinental Hotels Group in the second quarter worth $229,000. Aaron Wealth Advisors LLC acquired a new stake in InterContinental Hotels Group in the third quarter worth $214,000. Net Worth Advisory Group acquired a new stake in InterContinental Hotels Group in the third quarter worth $241,000. Blue Trust Inc. grew its holdings in InterContinental Hotels Group by 61.1% in the third quarter. Blue Trust Inc. now owns 3,708 shares of the company’s stock worth $393,000 after purchasing an additional 1,407 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of InterContinental Hotels Group by 22.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,807 shares of the company’s stock valued at $200,000 after buying an additional 330 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IHG shares. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Finally, Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

InterContinental Hotels Group Trading Down 1.1 %

NYSE:IHG traded down $1.52 during trading hours on Monday, reaching $133.40. The company had a trading volume of 184,191 shares, compared to its average volume of 139,167. The business’s 50-day simple moving average is $128.68 and its two-hundred day simple moving average is $116.60. InterContinental Hotels Group has a twelve month low of $91.57 and a twelve month high of $137.25.

About InterContinental Hotels Group

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.