Intercontinental Hotels Group (NYSE:IHG – Get Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.
IHG has been the topic of a number of other research reports. Jefferies Financial Group increased their price objective on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. Finally, Sanford C. Bernstein raised their price target on 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, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.50.
Intercontinental Hotels Group Trading Down 0.5%
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Gradient Investments LLC lifted its stake in Intercontinental Hotels Group by 4.2% during the second quarter. Gradient Investments LLC now owns 38,964 shares of the company’s stock worth $6,745,000 after purchasing an additional 1,560 shares during the last quarter. Baron Wealth Management LLC bought a new position in shares of Intercontinental Hotels Group during the 2nd quarter valued at about $236,000. GAMMA Investing LLC raised its holdings in shares of Intercontinental Hotels Group by 3.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $348,000 after buying an additional 70 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Intercontinental Hotels Group by 4.7% during the 1st quarter. NewEdge Advisors LLC now owns 8,207 shares of the company’s stock valued at $1,095,000 after buying an additional 369 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in Intercontinental Hotels Group by 25.0% in the 1st quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock worth $12,448,000 after buying an additional 18,631 shares during the last quarter. Institutional investors own 15.09% of the company’s stock.
About Intercontinental Hotels Group
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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