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

InterContinental Hotels Group PLC (NYSE:IHG) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 440,400 shares, an increase of 66.4% from the March 31st total of 264,700 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 181,800 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

IHG has been the subject of several research reports. Jefferies Financial Group lowered InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. StockNews.com cut InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Sanford C. Bernstein lowered shares of InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, March 13th. Finally, Societe Generale lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

IHG stock opened at $100.93 on Monday. InterContinental Hotels Group has a fifty-two week low of $65.22 and a fifty-two week high of $112.08. The firm has a fifty day moving average price of $104.02 and a 200 day moving average price of $91.90.

InterContinental Hotels Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Friday, April 5th will be paid a dividend of $1.04 per share. This is a positive change from InterContinental Hotels Group’s previous semi-annual dividend of $0.48. This represents a dividend yield of 1.4%. The ex-dividend date is Thursday, April 4th.

Institutional Trading of InterContinental Hotels Group

Large investors have recently modified their holdings of the company. CWM LLC grew its stake in InterContinental Hotels Group by 621.2% during the 3rd quarter. CWM LLC now owns 375 shares of the company’s stock worth $28,000 after buying an additional 323 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of InterContinental Hotels Group during the first quarter valued at approximately $48,000. Allworth Financial LP grew its holdings in shares of InterContinental Hotels Group by 1,900.0% during the third quarter. Allworth Financial LP now owns 780 shares of the company’s stock worth $58,000 after buying an additional 741 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of InterContinental Hotels Group in the third quarter valued at approximately $73,000. Finally, GAMMA Investing LLC acquired a new stake in shares of InterContinental Hotels Group in the 4th quarter worth $74,000. Hedge funds and other institutional investors own 15.09% of the company’s stock.

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.