InterGroup Corp (NASDAQ:INTG) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 6,100 shares, an increase of 19.6% from the August 31st total of 5,100 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average trading volume of 600 shares, the days-to-cover ratio is currently 10.2 days.
Separately, TheStreet cut InterGroup from a “c-” rating to a “d” rating in a research note on Wednesday, June 24th.
NASDAQ INTG traded down $0.90 during trading hours on Thursday, reaching $30.36. 10 shares of the company’s stock were exchanged, compared to its average volume of 1,387. The company’s 50-day moving average is $29.93 and its two-hundred day moving average is $28.13. InterGroup has a one year low of $23.85 and a one year high of $38.60.
An institutional investor recently raised its position in InterGroup stock. Wedbush Securities Inc. grew its position in shares of InterGroup Corp (NASDAQ:INTG) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,311 shares of the financial services provider’s stock after acquiring an additional 2,770 shares during the quarter. Wedbush Securities Inc. owned 2.24% of InterGroup worth $1,360,000 at the end of the most recent reporting period. 8.69% of the stock is owned by institutional investors.
The InterGroup Corporation, through its subsidiaries, operates a hotel under the Hilton San Francisco Financial District name located in San Francisco, California. It operates through three segments: Hotel Operations, Real Estate Operations, and Investment Transactions. The company's hotel consists of 544 guest rooms and luxury suites with approximately 22,000 square feet of meeting room space, grand ballroom, five level underground parking garage, pedestrian bridge, and Chinese culture center.
Recommended Story: Straddles
Receive News & Ratings for InterGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterGroup and related companies with MarketBeat.com's FREE daily email newsletter.