InterContinental Hotels Group PLC (NYSE:IHG) was the target of a sharp drop in short interest in January. As of January 15, short interest totaled 447,600 shares, down 32.1% from December 31 of 659,200 shares. Based on an average daily trading volume of 143,100 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.3% of the company’s shares are shorted.

A number of research firms have recently commented on IHG. Jefferies Financial Group upgraded InterContinental Hotels Group from an underperform rating to a buy rating in a research note on Wednesday, November 24. Zacks Investment Research In a research note on Tuesday, October 19, InterContinental Hotels Group upgraded its rating from a “hold” to a “buy” rating and set a price target of $79.00 for the stock. Exane BNP Paribas upgraded InterContinental Hotels Group from an underperform rating to a neutral rating in a report on Friday, January 21. UBS Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, January 5. Finally, BNP Paribas upgraded InterContinental Hotels Group from an underperform rating to a neutral rating in a report on Friday, January 21st. One research analyst has assigned a sell rating to the stock, six have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “buy” and a consensus target of $79.00.

Several institutional investors have recently bought and sold shares in IHG. National Bank of Canada FI acquired a new stake in InterContinental Hotels Group in the fourth quarter for approximately $47,000. Migdal Insurance & Financial Holdings Ltd. acquired a new interest in InterContinental Hotels Group in the third quarter for approximately $67,000. AdvisorShares Investments LLC increased its position in the InterContinental Hotels Group by 25.8% in the third quarter. AdvisorShares Investments LLC now owns 1,328 shares of the company, valued at $85,000, after purchasing an additional 272 shares last quarter. Moors & Cabot Inc. increased its stake in InterContinental Hotels Group stock by 471.4% in the third quarter. Moors & Cabot Inc. now owns 20,243 shares of the company’s stock valued at $95,000 after purchasing an additional 16,700 shares during the period. Finally, during the second quarter, Penserra Capital Management LLC bought a new position in InterContinental Hotels Group stock valued at approximately $199,000. Institutional investors own 3.48% of the company’s shares.

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IHG stock rose $1.72 during Monday’s trading hours to hit $66.64. 283,218 shares of the stock were exchanged compared to an average volume of 184,976. The company’s 50-day moving average is $64.58 and its 200-day moving average is $65.63. InterContinental Hotels Group has a 12-month low of $58.74 and a 12-month high of $75.20.

About the InterContinental Hotels Group

InterContinental Hotels Group Plc owns and operates hotels. The Company’s hotel brands include: InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, EVEN Hotels, IHG Rewards Club, Kimpton and HUALUXE Hotels and Resorts. The Company operates through the following segments: Europe, Middle East, Asia and Africa, America, Greater China and Central.

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