Short Interest in Intercontinental Hotels Group (NYSE:IHG) Drops By 18.8%

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

Intercontinental Hotels Group Trading Up 1.1%

IHG traded up $1.42 during trading hours on Tuesday, hitting $135.20. The stock had a trading volume of 350,839 shares, compared to its average volume of 287,496. Intercontinental Hotels Group has a 1 year low of $94.78 and a 1 year high of $150.89. The company’s fifty day simple moving average is $140.74 and its 200 day simple moving average is $131.24.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. boosted its holdings in shares of Intercontinental Hotels Group by 20.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 439 shares of the company’s stock worth $62,000 after acquiring an additional 76 shares during the period. Independent Advisor Alliance lifted its holdings in Intercontinental Hotels Group by 0.9% during the 4th quarter. Independent Advisor Alliance now owns 10,577 shares of the company’s stock worth $1,490,000 after purchasing an additional 91 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Intercontinental Hotels Group by 72.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after purchasing an additional 91 shares during the period. Capital International Investors grew its holdings in Intercontinental Hotels Group by 2.5% during the 4th quarter. Capital International Investors now owns 3,838 shares of the company’s stock valued at $544,000 after buying an additional 92 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Intercontinental Hotels Group by 0.8% in the fourth quarter. HighTower Advisors LLC now owns 12,734 shares of the company’s stock worth $1,793,000 after buying an additional 95 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Hotels Group

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.