InterContinental Hotels Group PLC (NYSE:IHG) Short Interest Up 102.2% in October

InterContinental Hotels Group plc (NYSE: IHG) received significant short-interest growth in October. As of October 29, there was a short interest totaling 391,200 shares, an increase of 102.2% over the October 14 total of 193,500 shares. Currently, 0.2% of the company’s stock is short sold. Based on average daily volume of 143,300 shares, the ratio of days to coverage is currently 2.7 days.

IHG has been the subject of a number of recent analyst reports. Societe Generale upgraded shares of InterContinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Monday, August 30th. Morgan Stanley reissued an “equal weight” rating for shares of InterContinental Hotels Group in a research note on Wednesday, August 11th. Berenberg raised shares of InterContinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, September 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on IHG shares in a research note on Tuesday, November 9th. Finally, Peel Hunt upgraded shares of InterContinental Hotels Group from “downgrade” to “Hold” in a research note on Thursday, August 19. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, InterContinental Hotels Group currently has an average rating of “Hold” and an agreed target price of $79.00.

InterContinental Hotels Group stock is down $0.87 during trading hours on Wednesday, to $67.38. The stock had a trading volume of 1,981 shares, compared to an average trading volume of 107,489 shares. The 50-day moving average for business is $67.55 and the 200-day moving average is $67.37. The InterContinental Hotels Group recorded a 52-week low of $58.88 and a 52-week high of $75.20.

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A number of institutional investors have recently made changes to their positions with IHG. Geode Capital Management LLC raised its stake in InterContinental Hotels Group by 8.6% in the first quarter. Geode Capital Management LLC now owns 7,895 shares of the company’s stock valued at $543,000 after purchasing an additional 622 shares last quarter. Bank of New York Mellon Corp increased its stake in shares of Intercontinental Hotels Group by 8.3% during the first quarter. Bank of New York Mellon Corp now owns 6,974 shares of the company’s stock, valued at $480,000 after acquiring an additional 534 shares last quarter. Dimensional Fund Advisors LP increased its stake in shares of InterContinental Hotels Group by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 155,651 shares of the company’s stock, valued at $10,724,000 after acquiring an additional 2,411 shares last quarter. Ameriprise Financial Inc. has increased of its stake in shares of InterContinental Hotels Group by 155.2% during the first quarter. Ameriprise Financial Corporation now owns 15,983 shares of the company’s stock valued at $1,100,000 after purchasing an additional 9,721 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Intercontinental Hotels Group by 19.5% during the first quarter. Royal Bank of Canada now owns 236,255 shares of the company’s stock valued at $16,277,000 after acquiring an additional 38,590 shares in the last quarter. Institutional investors and hedge funds own 3.59% of the company’s stock.

About InterContinental Hotels Group

InterContinental Hotels Group Plc owns and operates hotels. The company’s hotel brands include: InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, Evin Hotels, IHG Rewards Club, Kimpton and Hollux Hotels & Resorts. It operates through the following divisions: Europe, Middle East, Asia, Africa, the Americas, Greater China and Central.

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