The Intergroup Corporation (NASDAQ:INTG) Short Interest Up 390.2% in March

The Intergroup Corporation (NASDAQ:INTG) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 7,314 shares, an increase of 390.2% from the February 26th total of 1,492 shares. Based on an average trading volume of 11,635 shares, the short-interest ratio is presently 0.6 days. Currently, 1.3% of the company’s shares are short sold. Currently, 1.3% of the company’s shares are short sold. Based on an average trading volume of 11,635 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Intergroup stock. Qube Research & Technologies Ltd raised its position in The Intergroup Corporation (NASDAQ:INTG) by 11.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,795 shares of the financial services provider’s stock after acquiring an additional 2,636 shares during the period. Qube Research & Technologies Ltd owned approximately 1.15% of Intergroup worth $298,000 as of its most recent filing with the Securities & Exchange Commission. 3.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INTG. Wall Street Zen lowered Intergroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Intergroup in a report on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Intergroup Price Performance

INTG stock traded down $0.80 during mid-day trading on Wednesday, reaching $35.79. The company had a trading volume of 417 shares, compared to its average volume of 14,143. The firm has a 50 day moving average of $31.55 and a 200 day moving average of $29.43. Intergroup has a 12 month low of $9.57 and a 12 month high of $42.50. The company has a market capitalization of $76.91 million, a PE ratio of -62.79 and a beta of 0.18.

Intergroup (NASDAQ:INTG) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. The company had revenue of $17.30 million during the quarter.

Intergroup Company Profile

Intergroup Corporation (NASDAQ: INTG) is a U.S.-based manufacturer and marketer of industrial and food packaging products. Through its operating subsidiaries, the company produces a broad array of container solutions including corrugated paperboard, recycled fiberboard, plastic and fiber-plastic combinations, as well as wood and tin packaging. These products serve a diverse customer base across the food processing, consumer goods, pharmaceutical, and industrial sectors.

The company’s product portfolio encompasses custom-designed cartons, paper and plastic boxes, and heavy-duty shipping containers tailored to meet the specific strength, moisture resistance, and storage requirements of its customers.