Intercontinental Hotels Group (NYSE:IHG – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $164.46 and last traded at $163.2880, with a volume of 191046 shares. The stock had previously closed at $162.15.
Wall Street Analysts Forecast Growth
IHG has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Sanford C. Bernstein lifted their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $154.00.
Check Out Our Latest Analysis on Intercontinental Hotels Group
Intercontinental Hotels Group Trading Up 0.7%
Hedge Funds Weigh In On Intercontinental Hotels Group
Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in shares of Intercontinental Hotels Group by 10.4% during the third quarter. Envestnet Asset Management Inc. now owns 86,140 shares of the company’s stock valued at $10,445,000 after buying an additional 8,099 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Intercontinental Hotels Group by 9.0% during the third quarter. Natixis Advisors LLC now owns 448,244 shares of the company’s stock valued at $54,354,000 after buying an additional 36,946 shares during the last quarter. CCLA Investment Management bought a new stake in shares of Intercontinental Hotels Group during the fourth quarter valued at approximately $114,306,000. Optiver Holding B.V. raised its position in shares of Intercontinental Hotels Group by 112.0% during the third quarter. Optiver Holding B.V. now owns 51,306 shares of the company’s stock valued at $6,221,000 after buying an additional 27,102 shares during the last quarter. Finally, ABC Arbitrage SA raised its position in shares of Intercontinental Hotels Group by 26.4% during the third quarter. ABC Arbitrage SA now owns 131,377 shares of the company’s stock valued at $15,931,000 after buying an additional 27,450 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.
Intercontinental Hotels Group Company Profile
Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.
IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.
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