Intercontinental Hotels Group (IHG) Short Interest Update
Intercontinental Hotels Group (NYSE:IHG) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 486,793 shares, a drop of 41.4% from the July 31st total of 830,598 shares. Based on an average daily trading volume, of 139,080 shares, the short-interest ratio is currently 3.5 days.
Intercontinental Hotels Group (NYSE IHG) opened at 49.54 on Wednesday. The stock has a 50 day moving average price of $53.38 and a 200-day moving average price of $53.34. Intercontinental Hotels Group has a 12-month low of $39.82 and a 12-month high of $57.80. The stock has a market capitalization of $9.71 billion, a P/E ratio of 22.22 and a beta of 1.36.
The company also recently announced a special dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, August 30th.
A number of analysts have issued reports on IHG shares. Zacks Investment Research raised Intercontinental Hotels Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. BidaskClub lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Credit Suisse Group lowered Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Morgan Stanley lowered Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 15th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $50.33.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its stake in Intercontinental Hotels Group by 12.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 385,813 shares of the company’s stock valued at $21,424,000 after purchasing an additional 42,491 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Intercontinental Hotels Group in the second quarter valued at about $233,000. Gotham Asset Management LLC purchased a new position in Intercontinental Hotels Group in the second quarter valued at about $308,000. Goldman Sachs Group Inc. grew its stake in Intercontinental Hotels Group by 9.6% in the second quarter. Goldman Sachs Group Inc. now owns 69,660 shares of the company’s stock valued at $3,868,000 after purchasing an additional 6,079 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in Intercontinental Hotels Group in the second quarter valued at about $509,000. Hedge funds and other institutional investors own 6.70% of the company’s stock.
WARNING: This news story was posted by Daily Political and is the property of of Daily Political. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this news story can be read at https://www.dailypolitical.com/2017/09/05/intercontinental-hotels-group-ihg-short-interest-update.html.
About Intercontinental Hotels Group
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
Receive News & Ratings for Intercontinental Hotels Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Hotels Group and related companies with MarketBeat.com's FREE daily email newsletter.