InterGroup Corp (NASDAQ:INTG) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,000 shares, a drop of 44.4% from the July 31st total of 3,600 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 1,700 shares, the short-interest ratio is presently 1.2 days.
Shares of InterGroup stock remained flat at $$29.71 during trading on Friday. 790 shares of the company traded hands, compared to its average volume of 1,255. The firm’s 50-day simple moving average is $29.68 and its 200-day simple moving average is $30.47. InterGroup has a 12-month low of $28.89 and a 12-month high of $39.35. The company has a market cap of $68.88 million, a PE ratio of 12.43 and a beta of 0.20.
In other InterGroup news, major shareholder Corp Intergroup bought 3,000 shares of InterGroup stock in a transaction that occurred on Thursday, June 27th. The stock was purchased at an average price of $36.00 per share, with a total value of $108,000.00. Following the completion of the acquisition, the insider now directly owns 1,020,170 shares in the company, valued at approximately $36,726,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have purchased 4,200 shares of company stock valued at $151,497. 68.70% of the stock is currently owned by corporate insiders.
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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