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

InterContinental Hotels Group PLC (NYSE:IHG) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 296,000 shares, a growth of 6.4% from the October 31st total of 278,200 shares. Based on an average daily volume of 153,200 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.2% of the shares of the company are sold short.

InterContinental Hotels Group Stock Performance

Shares of IHG stock opened at $128.70 on Thursday. InterContinental Hotels Group has a twelve month low of $80.61 and a twelve month high of $129.30. The business has a fifty day simple moving average of $116.44 and a 200 day simple moving average of $107.18.

Analyst Ratings Changes

A number of analysts have recently weighed in on IHG shares. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Trading of InterContinental Hotels Group

Several institutional investors and hedge funds have recently modified their holdings of IHG. Rothschild Investment LLC bought a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth $36,000. EverSource Wealth Advisors LLC lifted its position in shares of InterContinental Hotels Group by 65.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock worth $48,000 after buying an additional 191 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth $50,000. Assetmark Inc. lifted its position in shares of InterContinental Hotels Group by 130.9% during the 3rd quarter. Assetmark Inc. now owns 769 shares of the company’s stock worth $85,000 after buying an additional 436 shares during the last quarter. Finally, World Investment Advisors LLC bought a new stake in shares of InterContinental Hotels Group during the 3rd quarter worth $86,000. 15.09% of the stock is currently owned by institutional investors.

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.