Short Interest in The Intergroup Corporation (NASDAQ:INTG) Grows By 190.3%

The Intergroup Corporation (NASDAQ:INTG) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 28,521 shares, an increase of 190.3% from the May 31st total of 9,826 shares. Currently, 5.1% of the company’s shares are sold short. Based on an average daily volume of 41,572 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Intergroup

An institutional investor recently raised its stake in Intergroup stock. Qube Research & Technologies Ltd boosted its position in shares of The Intergroup Corporation (NASDAQ:INTG) by 11.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,795 shares of the financial services provider’s stock after purchasing an additional 2,636 shares during the quarter. Qube Research & Technologies Ltd owned about 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INTG has been the topic of a number of analyst reports. Wall Street Zen raised Intergroup from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intergroup in a research note on Wednesday, April 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Intergroup Stock Down 2.4%

INTG stock traded down $1.15 during trading on Tuesday, hitting $47.77. The company had a trading volume of 50,434 shares, compared to its average volume of 34,309. Intergroup has a 52-week low of $9.57 and a 52-week high of $52.00. The company has a 50 day simple moving average of $38.15 and a 200-day simple moving average of $33.86. The firm has a market capitalization of $102.66 million, a P/E ratio of -529.85 and a beta of 0.06.

Intergroup (NASDAQ:INTG) last released its quarterly earnings data on Monday, May 11th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $20.37 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.