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

InterContinental Hotels Group PLC (NYSE:IHG) saw a large growth in short interest during 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 short-interest ratio is currently 1.9 days. Approximately 0.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. One equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock valued at $705,758,000 after acquiring an additional 351,723 shares during the period. World Investment Advisors LLC bought a new position in InterContinental Hotels Group in the 3rd quarter worth about $86,000. Bank of Montreal Can acquired a new stake in shares of InterContinental Hotels Group in the second quarter valued at approximately $3,892,000. Natixis Advisors LLC raised its holdings in shares of InterContinental Hotels Group by 2.8% during the second quarter. Natixis Advisors LLC now owns 736,042 shares of the company’s stock valued at $77,984,000 after buying an additional 20,280 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in shares of InterContinental Hotels Group during the third quarter worth approximately $1,699,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

InterContinental Hotels Group Stock Performance

NYSE IHG traded up $1.21 during trading hours on Tuesday, reaching $127.71. The company’s stock had a trading volume of 54,281 shares, compared to its average volume of 171,084. The business has a 50-day simple moving average of $116.11 and a 200 day simple moving average of $106.99. InterContinental Hotels Group has a 52 week low of $80.61 and a 52 week high of $128.19.

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.