InterContinental Hotels Group PLC (NYSE:IHG) Short Interest Up 103.1% in March

InterContinental Hotels Group PLC (NYSE:IHGGet Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 264,700 shares, a growth of 103.1% from the March 15th total of 130,300 shares. Based on an average daily trading volume, of 174,200 shares, the short-interest ratio is presently 1.5 days. Approximately 0.2% of the shares of the stock are short sold.

InterContinental Hotels Group Stock Down 2.4 %

Shares of NYSE:IHG traded down $2.38 on Friday, reaching $98.25. 133,862 shares of the company traded hands, compared to its average volume of 181,122. The business’s 50-day simple moving average is $103.60 and its 200 day simple moving average is $89.96. InterContinental Hotels Group has a 52 week low of $65.22 and a 52 week high of $112.08.

InterContinental Hotels Group Increases Dividend

The business also recently disclosed 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 boost 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC bought a new stake in shares of InterContinental Hotels Group in the first quarter worth about $227,000. &PARTNERS bought a new stake in shares of InterContinental Hotels Group in the first quarter worth about $285,000. Park Avenue Securities LLC bought a new stake in shares of InterContinental Hotels Group in the first quarter worth about $223,000. PNC Financial Services Group Inc. grew its stake in shares of InterContinental Hotels Group by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock worth $319,000 after purchasing an additional 174 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of InterContinental Hotels Group in the fourth quarter worth about $669,000. 15.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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About InterContinental Hotels Group

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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.

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