Short Interest in InterContinental Hotels Group PLC (NYSE:IHG) Rises By 9.6%

InterContinental Hotels Group PLC (NYSE:IHG) was the recipient of a significant increase in short interest in the month of 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. Based on an average daily volume of 143,100 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. boosted its position in shares of InterContinental Hotels Group by 4.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,455 shares of the company’s stock worth $1,214,000 after purchasing an additional 453 shares in the last quarter. Blue Trust Inc. boosted its holdings in InterContinental Hotels Group by 49.6% during the second quarter. Blue Trust Inc. now owns 2,301 shares of the company’s stock worth $243,000 after buying an additional 763 shares in the last quarter. Raymond James & Associates grew its position in InterContinental Hotels Group by 1.2% during the second quarter. Raymond James & Associates now owns 123,232 shares of the company’s stock worth $13,056,000 after buying an additional 1,475 shares during the period. &PARTNERS increased its holdings in InterContinental Hotels Group by 48.5% in the second quarter. &PARTNERS now owns 4,000 shares of the company’s stock valued at $424,000 after buying an additional 1,307 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of InterContinental Hotels Group during the 2nd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Trading Up 0.3 %

Shares of IHG stock opened at $127.50 on Tuesday. The stock has a 50 day simple moving average of $119.61 and a 200-day simple moving average of $108.95. The company has a market cap of $20.21 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.33. InterContinental Hotels Group has a 12-month low of $89.02 and a 12-month high of $131.68.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IHG. The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.