The Intergroup Corporation (NASDAQ:INTG) Sees Large Drop in Short Interest

The Intergroup Corporation (NASDAQ:INTG) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 3,231 shares, a decrease of 16.3% from the January 15th total of 3,859 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 15,691 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 15,691 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.6% of the shares of the stock are sold short.

Intergroup Stock Performance

Shares of NASDAQ:INTG opened at $27.76 on Monday. The firm has a market capitalization of $59.68 million, a P/E ratio of -48.70 and a beta of 0.20. The stock has a 50 day moving average price of $28.80 and a 200-day moving average price of $25.68. Intergroup has a 52-week low of $9.57 and a 52-week high of $42.50.

Intergroup (NASDAQ:INTG) last issued its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.71 earnings per share for the quarter. The firm had revenue of $17.30 million during the quarter.

Analysts Set New Price Targets

Several equities analysts recently commented on INTG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intergroup in a report on Friday, January 9th. Wall Street Zen upgraded Intergroup from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Trading of Intergroup

A hedge fund recently raised its stake in Intergroup stock. Qube Research & Technologies Ltd increased its stake in The Intergroup Corporation (NASDAQ:INTG) by 11.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,795 shares of the financial services provider’s stock after purchasing an additional 2,636 shares during the quarter. Qube Research & Technologies Ltd owned 1.15% of Intergroup worth $298,000 at the end of the most recent quarter. Institutional investors own 3.36% of the company’s stock.

Intergroup Company Profile

Intergroup Corporation (NASDAQ: INTG) is a U.S.-based manufacturer and marketer of industrial and food packaging products. Through its operating subsidiaries, the company produces a broad array of container solutions including corrugated paperboard, recycled fiberboard, plastic and fiber-plastic combinations, as well as wood and tin packaging. These products serve a diverse customer base across the food processing, consumer goods, pharmaceutical, and industrial sectors.

The company’s product portfolio encompasses custom-designed cartons, paper and plastic boxes, and heavy-duty shipping containers tailored to meet the specific strength, moisture resistance, and storage requirements of its customers.