Short Interest in The Intergroup Corporation (NASDAQ:INTG) Expands By 190.3%

The Intergroup Corporation (NASDAQ:INTG) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 28,521 shares, an increase of 190.3% from the May 31st total of 9,826 shares. Based on an average trading volume of 41,572 shares, the short-interest ratio is currently 0.7 days. Approximately 5.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Intergroup

A hedge fund recently raised its position in Intergroup stock. Qube Research & Technologies Ltd boosted its position in shares of The Intergroup Corporation (NASDAQ:INTG) by 11.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,795 shares of the financial services provider’s stock after purchasing an additional 2,636 shares during the quarter. Qube Research & Technologies Ltd owned about 1.15% of Intergroup worth $298,000 at the end of the most recent reporting period. 3.36% of the stock is owned by institutional investors.

Intergroup Trading Up 5.6%

NASDAQ:INTG traded up $2.44 during trading hours on Friday, reaching $46.26. 70,000 shares of the company traded hands, compared to its average volume of 74,720. The business’s 50-day moving average price is $37.94 and its two-hundred day moving average price is $33.68. Intergroup has a 1 year low of $9.57 and a 1 year high of $52.00. The stock has a market capitalization of $99.46 million, a P/E ratio of -513.94 and a beta of 0.06.

Intergroup (NASDAQ:INTG) last released its earnings results on Monday, May 11th. The financial services provider reported $0.21 EPS for the quarter. The company had revenue of $20.37 million during the quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Intergroup from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intergroup in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Intergroup

Intergroup Corporation (NASDAQ: INTG) is a U.S.-based manufacturer and marketer of industrial and food packaging products. Through its operating subsidiaries, the company produces a broad array of container solutions including corrugated paperboard, recycled fiberboard, plastic and fiber-plastic combinations, as well as wood and tin packaging. These products serve a diverse customer base across the food processing, consumer goods, pharmaceutical, and industrial sectors.

The company’s product portfolio encompasses custom-designed cartons, paper and plastic boxes, and heavy-duty shipping containers tailored to meet the specific strength, moisture resistance, and storage requirements of its customers.