InterContinental Hotels Group PLC (NYSE:IHG) Sees Large Increase in Short Interest

InterContinental Hotels Group PLC (NYSE:IHG) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 351,600 shares, a growth of 15.2% from the January 15th total of 305,100 shares. Based on an average trading volume of 126,500 shares, the short-interest ratio is currently 2.8 days. Currently, 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On InterContinental Hotels Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vident Advisory LLC lifted its stake in InterContinental Hotels Group by 4.5% in the 4th quarter. Vident Advisory LLC now owns 4,502 shares of the company’s stock valued at $563,000 after purchasing an additional 192 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of InterContinental Hotels Group by 13.6% during the fourth quarter. Quantinno Capital Management LP now owns 34,409 shares of the company’s stock valued at $4,298,000 after acquiring an additional 4,132 shares during the last quarter. Clark Capital Management Group Inc. raised its stake in shares of InterContinental Hotels Group by 1.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company’s stock valued at $46,613,000 after acquiring an additional 6,709 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of InterContinental Hotels Group by 27.5% during the fourth quarter. Cetera Investment Advisers now owns 11,593 shares of the company’s stock valued at $1,448,000 after acquiring an additional 2,498 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of InterContinental Hotels Group by 8.9% during the fourth quarter. Bank of America Corp DE now owns 430,323 shares of the company’s stock valued at $53,756,000 after acquiring an additional 35,003 shares during the last quarter. Institutional investors own 15.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Finally, Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

NYSE:IHG traded down $1.52 on Monday, hitting $133.40. The company had a trading volume of 184,191 shares, compared to its average volume of 139,167. The firm has a 50 day moving average of $128.68 and a two-hundred day moving average of $116.60. InterContinental Hotels Group has a 52 week low of $91.57 and a 52 week high of $137.25.

InterContinental Hotels Group Company Profile

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.