The InterGroup Co. (NASDAQ:INTG) Sees Significant Increase in Short Interest

The InterGroup Co. (NASDAQ:INTG) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 10,000 shares, an increase of 138.1% from the September 15th total of 4,200 shares. Based on an average daily volume of 9,800 shares, the short-interest ratio is currently 1.0 days. Approximately 1.6% of the shares of the company are short sold.

Hedge Funds Weigh In On The InterGroup

An institutional investor recently raised its position in The InterGroup stock. PFG Investments LLC boosted its position in shares of The InterGroup Co. (NASDAQ:INTG) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 330,688 shares of the financial services provider’s stock after buying an additional 7,859 shares during the quarter. PFG Investments LLC owned 15.12% of The InterGroup worth $6,825,000 at the end of the most recent quarter. 3.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut The InterGroup from a “hold” rating to a “sell” rating in a research report on Friday.

The InterGroup Price Performance

Shares of NASDAQ INTG traded down $0.56 during midday trading on Friday, reaching $14.34. 5,769 shares of the company traded hands, compared to its average volume of 7,804. The company has a market cap of $31.36 million, a price-to-earnings ratio of -2.01 and a beta of 0.31. The stock has a 50-day moving average price of $17.09 and a 200 day moving average price of $19.98. The InterGroup has a 52 week low of $13.92 and a 52 week high of $31.40.

The InterGroup (NASDAQ:INTG) last issued its quarterly earnings results on Monday, September 30th. The financial services provider reported ($1.70) earnings per share for the quarter. The firm had revenue of $13.43 million for the quarter.

About The InterGroup

The InterGroup Corporation, through its subsidiaries, operates a hotel under the Hilton San Francisco Financial District name located in San Francisco, California. The company operates through three segments: Hotel Operations, Real Estate Operations, and Investment Transactions. Its hotel consists of guest rooms and luxury suites, a restaurant, a lounge, a private dining room, meeting room space, a gym, a grand ballroom, 5-level underground parking garage, a pedestrian bridge, and a Chinese culture center.