InterContinental Hotels Group PLC (NYSE:IHG) Short Interest Up 9.6% in November

InterContinental Hotels Group PLC (NYSE:IHG) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 324,300 shares, an increase of 9.6% from the November 15th total of 296,000 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 143,100 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rothschild Investment LLC bought a new position in shares of InterContinental Hotels Group in the second quarter worth $36,000. Transcendent Capital Group LLC bought a new position in InterContinental Hotels Group in the 2nd quarter valued at about $50,000. Assetmark Inc. increased its holdings in InterContinental Hotels Group by 130.9% in the 3rd quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after buying an additional 436 shares during the period. Transamerica Financial Advisors Inc. raised its position in shares of InterContinental Hotels Group by 100,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock valued at $111,000 after buying an additional 1,001 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of InterContinental Hotels Group by 226.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,477 shares of the company’s stock worth $156,000 after acquiring an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

InterContinental Hotels Group Stock Performance

NYSE:IHG traded down $0.72 during mid-day trading on Friday, hitting $127.11. 93,777 shares of the stock were exchanged, compared to its average volume of 169,853. The firm’s 50-day simple moving average is $119.27 and its 200 day simple moving average is $108.75. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.88 and a beta of 1.33. InterContinental Hotels Group has a fifty-two week low of $89.02 and a fifty-two week high of $131.68.

Wall Street Analyst Weigh In

Several research firms have recently commented on IHG. Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

About InterContinental Hotels Group

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.