InterContinental Hotels Group PLC (NYSE:IHG) Short Interest Update

InterContinental Hotels Group PLC (NYSE:IHGGet Rating) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 197,900 shares, a decrease of 45.4% from the April 30th total of 362,300 shares. Based on an average daily trading volume, of 164,400 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.1% of the company’s shares are sold short.

A number of analysts have commented on the stock. BNP Paribas raised shares of InterContinental Hotels Group from a “neutral” rating to an “outperform” rating and set a $5,800.00 price objective for the company in a research note on Monday, February 28th. UBS Group upped their target price on InterContinental Hotels Group from GBX 5,575 ($70.15) to GBX 5,675 ($71.41) in a report on Thursday, February 24th. Zacks Investment Research upgraded InterContinental Hotels Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th. Exane BNP Paribas upgraded InterContinental Hotels Group from a “neutral” rating to an “outperform” rating and set a GBX 5,800 ($72.98) price objective on the stock in a report on Monday, February 28th. Finally, StockNews.com assumed coverage on InterContinental Hotels Group in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $4,550.80.

InterContinental Hotels Group stock traded up $1.00 during trading hours on Friday, reaching $63.18. 97,428 shares of the company were exchanged, compared to its average volume of 169,186. The stock has a 50-day moving average of $65.23 and a 200 day moving average of $65.72. InterContinental Hotels Group has a 12 month low of $58.06 and a 12 month high of $73.79.

The firm also recently disclosed a — dividend, which was paid on Tuesday, May 17th. Stockholders of record on Friday, April 1st were given a $0.859 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a dividend yield of 1.2%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in shares of InterContinental Hotels Group by 9.0% in the first quarter. BNP Paribas Arbitrage SA now owns 84,470 shares of the company’s stock valued at $5,813,000 after acquiring an additional 6,960 shares during the period. Quantbot Technologies LP bought a new stake in shares of InterContinental Hotels Group in the first quarter valued at approximately $82,000. Goldman Sachs Group Inc. boosted its position in shares of InterContinental Hotels Group by 20.9% in the first quarter. Goldman Sachs Group Inc. now owns 490,190 shares of the company’s stock valued at $33,735,000 after acquiring an additional 84,613 shares during the period. Captrust Financial Advisors boosted its position in shares of InterContinental Hotels Group by 22.0% in the first quarter. Captrust Financial Advisors now owns 1,211 shares of the company’s stock valued at $83,000 after acquiring an additional 218 shares during the period. Finally, Wetherby Asset Management Inc. boosted its position in shares of InterContinental Hotels Group by 6.6% in the first quarter. Wetherby Asset Management Inc. now owns 10,582 shares of the company’s stock valued at $728,000 after acquiring an additional 659 shares during the period. 14.30% of the stock is owned by institutional investors.

InterContinental Hotels Group Company Profile (Get Rating)

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, EVEN Hotels, HUALUXE, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, avid, Staybridge Suites, Atwell Suites, Candlewood Suites, voco, and Crowne Plaza.

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