Short Interest in Intercontinental Hotels Group (NYSE:IHG) Drops By 37.4%

Intercontinental Hotels Group (NYSE:IHG) was the target of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 396,934 shares, a decrease of 37.4% from the February 12th total of 634,389 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average trading volume of 371,814 shares, the short-interest ratio is currently 1.1 days. Based on an average trading volume of 371,814 shares, the short-interest ratio is currently 1.1 days. Approximately 0.3% of the company’s shares are short sold.

Institutional Investors Weigh In On Intercontinental Hotels Group

Large investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its stake in shares of Intercontinental Hotels Group by 178.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock valued at $25,000 after acquiring an additional 116 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Intercontinental Hotels Group by 1,453.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the period. Fifth Third Bancorp increased its holdings in Intercontinental Hotels Group by 111.0% in the 4th quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Intercontinental Hotels Group by 72.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after purchasing an additional 91 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in Intercontinental Hotels Group by 525.6% in the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock valued at $38,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Intercontinental Hotels Group Stock Performance

Shares of NYSE IHG traded down $2.04 during midday trading on Friday, hitting $128.91. The stock had a trading volume of 139,438 shares, compared to its average volume of 323,545. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $150.89. The company has a fifty day moving average price of $139.08 and a 200 day moving average price of $131.96.

Intercontinental Hotels Group Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, May 14th. Shareholders of record on Friday, April 10th will be given a dividend of $1.259 per share. This represents a yield of 191.0%. The ex-dividend date of this dividend is Friday, April 10th.

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.