Short Interest in Intercontinental Hotels Group (NYSE:IHG) Drops By 31.5%

Intercontinental Hotels Group (NYSE:IHG) saw a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 781,640 shares, a drop of 31.5% from the January 15th total of 1,140,275 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 227,078 shares, the short-interest ratio is currently 3.4 days. Based on an average daily volume of 227,078 shares, the short-interest ratio is currently 3.4 days. Approximately 0.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Finally, Wall Street Zen cut Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Intercontinental Hotels Group

Institutional investors and hedge funds have recently bought and sold shares of the business. CCLA Investment Management acquired a new stake in shares of Intercontinental Hotels Group in the fourth quarter valued at $114,306,000. Morgan Stanley grew its holdings in Intercontinental Hotels Group by 3.9% during the 4th quarter. Morgan Stanley now owns 764,049 shares of the company’s stock worth $107,601,000 after acquiring an additional 28,526 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Intercontinental Hotels Group by 1.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock valued at $100,006,000 after acquiring an additional 9,235 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Intercontinental Hotels Group by 0.8% in the third quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock worth $60,835,000 after acquiring an additional 4,080 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of Intercontinental Hotels Group by 3.9% in the fourth quarter. Natixis Advisors LLC now owns 465,747 shares of the company’s stock worth $65,591,000 after acquiring an additional 17,503 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Price Performance

Intercontinental Hotels Group stock traded up $0.16 during trading hours on Friday, hitting $146.03. 324,812 shares of the stock were exchanged, compared to its average volume of 232,140. The business’s 50-day moving average is $139.83 and its two-hundred day moving average is $129.20. Intercontinental Hotels Group has a 12 month low of $94.78 and a 12 month high of $150.89.

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.