Short Interest in InterContinental Hotels Group PLC (NYSE:IHG) Rises By 9.5%

InterContinental Hotels Group PLC (NYSE:IHG - Get Free Report) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 517,000 shares, an increase of 9.5% from the September 30th total of 472,000 shares. Based on an average daily trading volume, of 193,400 shares, the days-to-cover ratio is currently 2.7 days. Currently, 0.3% of the company's stock are short sold.

InterContinental Hotels Group Price Performance

Shares of NYSE:IHG traded down $0.49 during midday trading on Wednesday, hitting $112.80. 74,953 shares of the company's stock were exchanged, compared to its average volume of 177,125. InterContinental Hotels Group has a 12 month low of $71.01 and a 12 month high of $115.25. The company has a market cap of $17.96 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.81 and a beta of 1.32. The stock has a 50 day moving average price of $106.95 and a 200-day moving average price of $103.36.

InterContinental Hotels Group Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, August 30th were paid a dividend of $0.532 per share. The ex-dividend date was Friday, August 30th. This is a boost from InterContinental Hotels Group's previous Semi-Annual dividend of $0.30. This represents a yield of 1.6%. InterContinental Hotels Group's dividend payout ratio (DPR) is 21.63%.

Institutional Investors Weigh In On InterContinental Hotels Group

A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in InterContinental Hotels Group by 46.9% in the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company's stock worth $35,000 after purchasing an additional 106 shares during the last quarter. Rothschild Investment LLC purchased a new stake in InterContinental Hotels Group during the second quarter worth about $36,000. Allspring Global Investments Holdings LLC purchased a new position in InterContinental Hotels Group in the first quarter valued at about $48,000. EverSource Wealth Advisors LLC grew its position in shares of InterContinental Hotels Group by 65.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company's stock valued at $48,000 after acquiring an additional 191 shares during the period. Finally, Transcendent Capital Group LLC purchased a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth approximately $50,000. 15.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised InterContinental Hotels Group from a "neutral" rating to a "buy" rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

InterContinental Hotels Group Company Profile

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.