Intergroup Faces Downgrade to Sell Amid Market Fluctuations

The Intergroup Corporation (NASDAQ:INTG) has been downgraded to a “sell” rating by analysts at Wall Street Zen, according to a research report released on Friday. This follows a similar assessment from Weiss Ratings, which reaffirmed a “sell (d-)” rating on the company’s shares on October 14, 2023. Currently, one analyst has assigned a sell rating to the stock, contributing to a consensus rating of “sell,” as reported by MarketBeat.com.

Market Performance and Financial Overview

On the same day of the downgrade, shares of Intergroup opened at $30.58, reflecting a decrease of 1.4%. The company’s 50-day moving average stands at $29.82, while its 200-day moving average is significantly lower at $18.97. Intergroup’s market capitalization is approximately $65.72 million, with a price-to-earnings (P/E) ratio of -12.38, indicating challenges in profitability.

The stock has experienced considerable volatility over the past year, registering a 52-week low of $9.57 and a high of $42.50. In its latest quarterly earnings report, released on November 12, 2023, Intergroup reported earnings per share (EPS) of ($0.25) alongside revenues of $17.91 million.

Institutional Investment Trends

In recent developments regarding institutional investments, Qube Research & Technologies Ltd has increased its stake in Intergroup. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC), Qube raised its position in Intergroup by 11.9% during the second quarter of 2023. This adjustment brought their total holdings to 24,795 shares, valued at approximately $298,000. Overall, institutional investors own about 3.36% of Intergroup’s stock.

The Intergroup Corporation operates primarily through its subsidiaries, including a hotel located in the Hilton San Francisco Financial District in San Francisco, California. The company’s operations are divided into three segments: Hotel Operations, Real Estate Operations, and Investment Transactions. The hotel features guest rooms and luxury suites, a restaurant, a gym, meeting facilities, and a grand ballroom.

As market conditions evolve, the future performance of Intergroup will be closely monitored by both analysts and investors, especially in light of the recent rating downgrades and financial results.