InterGroup Corp (NASDAQ:INTG) Short Interest Update

InterGroup Corp (NASDAQ:INTG) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 5,100 shares, a growth of 18.6% from the August 15th total of 4,300 shares. Based on an average trading volume of 700 shares, the short-interest ratio is currently 7.3 days. Currently, 0.8% of the company’s stock are sold short.

Shares of InterGroup stock traded up $0.90 during trading on Wednesday, reaching $31.33. 289 shares of the stock traded hands, compared to its average volume of 1,401. The business has a fifty day simple moving average of $28.16 and a two-hundred day simple moving average of $28.02. InterGroup has a 52-week low of $23.85 and a 52-week high of $38.60.

InterGroup (NASDAQ:INTG) last issued its quarterly earnings data on Thursday, June 18th. The financial services provider reported ($1.12) earnings per share for the quarter. The firm had revenue of $15.02 million for the quarter. InterGroup had a negative net margin of 6.52% and a negative return on equity of 4.55%.

Separately, TheStreet cut InterGroup from a “c-” rating to a “d” rating in a research report on Wednesday, June 24th.

In other news, major shareholder Corp Intergroup bought 1,040 shares of InterGroup stock in a transaction on Friday, June 26th. The shares were purchased at an average price of $36.00 per share, for a total transaction of $37,440.00. Following the acquisition, the insider now owns 99,602 shares of the company’s stock, valued at $3,585,672. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 69.50% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in InterGroup stock. Wedbush Securities Inc. lifted its stake in InterGroup Corp (NASDAQ:INTG) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. 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. Institutional investors and hedge funds own 8.69% of the company’s stock.

InterGroup Company Profile

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.

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