InterContinental Hotels Group PLC (NYSE: IHG) saw a sharp rise in short positions in December. As of December 15, there were short interests totaling 698,700 shares, an increase of 75.1% over November 30 of a total of 399,000 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 146,000 shares, the day-to-cover ratio is currently 4.8 days.

Several hedge funds and other institutional investors recently added or reduced their stakes in the company. The Bank of Montreal Can increased its stake in the InterContinental Hotels Group by 40,424.7% in the second quarter. The Bank of Montreal Can now owns 654,069 shares in the company, valued at $ 45,870,000, after purchasing an additional 652,455 shares last quarter. Goldman Sachs Group Inc. expanded its position in the InterContinental Hotels Group by 7.9% in the third quarter. Goldman Sachs Group Inc. now owns 433,287 shares in the company, valued at $ 27,856,000, after purchasing an additional 31,567 shares last quarter. Parametric Portfolio Associates LLC increased its position in the InterContinental Hotels Group by 10.9% in the second quarter. Parametric Portfolio Associates LLC now owns 368,342 shares in the company, valued at $ 24,565,000, after acquiring an additional 36,242 shares last quarter. JPMorgan Chase & Co. increased its position in the InterContinental Hotels Group by 4.5% in the second quarter. JPMorgan Chase & Co. now owns 333,613 shares in the company, valued at $ 22,248,000, after acquiring an additional 14,359 shares last quarter. Finally, the Royal Bank of Canada increased its position in the InterContinental Hotels Group by 8.5% in the third quarter. The Royal Bank of Canada now owns 286,786 shares in the company valued at $ 18,439,000 after purchasing an additional 22,541 shares last quarter. 3.59% of the shares are currently owned by hedge funds and other institutional investors.

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Shares in NYSE IHG traded during Monday’s trading hours, up $ 0.66 to hit $ 65.87. 101,783 shares of the company were traded, compared to an average volume of 113,114. The company’s 50-day moving average price is $ 65.73 and the 200-day moving average price is $ 65.75. The InterContinental Hotels Group has a 12-month low of $ 58.74 and a 12-month high of $ 75.20.

A number of research analysts recently released reports on IHG stocks. Deutsche Bank Aktiengesellschaft confirmed in a research release on Tuesday, November 9th, its buy recommendation for the shares of the InterContinental Hotels Group. Zacks Investment Research raised the InterContinental Hotels Group from a “hold” rating to a “buy” rating on October 19, setting a price target of $ 79.00 for the stock. Berenberg Bank upgraded the InterContinental Hotels Group from a “Hold” rating to a “Buy” rating in a report on Friday, September 17th. Finally, the Jefferies Financial Group upgraded the InterContinental Hotels Group from an “underperform” rating to a “buy” rating in a report dated Wednesday, November 24th. Two stock research analysts have given the stock a sell rating, five a hold rating, and eight a buy rating for the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $ 79.00.

Company profile of 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. It operates in the following segments: Europe, Middle East, Asia and Africa, America, Greater China and Central Asia.

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