Intercontinental Hotels Group (NYSE:IHG) Sees Large Decrease in Short Interest

Intercontinental Hotels Group (NYSE:IHG) was the recipient of a large decrease in short interest in February. As of February 13th, there was short interest totaling 634,389 shares, a decrease of 18.8% from the January 29th total of 781,640 shares. Based on an average daily volume of 269,682 shares, the short-interest ratio is presently 2.4 days. Approximately 0.4% of the company’s stock are short sold. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 269,682 shares, the short-interest ratio is presently 2.4 days.

Intercontinental Hotels Group Price Performance

NYSE IHG traded up $0.63 during mid-day trading on Thursday, reaching $135.70. 72,875 shares of the company’s stock traded hands, compared to its average volume of 279,544. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $150.89. The company has a fifty day simple moving average of $140.41 and a 200-day simple moving average of $131.36.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. CCLA Investment Management bought a new stake in shares of Intercontinental Hotels Group in the 4th quarter worth about $114,306,000. CIBC Bancorp USA Inc. bought a new stake in Intercontinental Hotels Group in the third quarter valued at about $42,374,000. JPMorgan Chase & Co. raised its stake in Intercontinental Hotels Group by 125.7% during the second quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after buying an additional 251,647 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Intercontinental Hotels Group during the 4th quarter worth approximately $26,758,000. Finally, Lazard Asset Management LLC grew its position in shares of Intercontinental Hotels Group by 98.4% in the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after acquiring an additional 176,502 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IHG shares. Jefferies Financial Group raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Finally, Berenberg Bank upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.