Intercontinental Hotels Group (NYSE:IHG) Shares Break Above Two Hundred Day Moving Average – What’s Next?

Intercontinental Hotels Group (NYSE:IHG – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $154.84 and traded as high as $160.91. Intercontinental Hotels Group shares last traded at $159.6960, with a volume of 112,964 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IHG shares. UBS Group upgraded shares of Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Wednesday, September 2nd. Zacks Research upgraded shares of Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Jefferies Financial Group raised their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

View Our Latest Stock Report on IHG

Intercontinental Hotels Group Price Performance

The stock’s 50 day moving average price is $158.79 and its 200 day moving average price is $155.04.

Intercontinental Hotels Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, October 1st. Investors of record on Friday, August 21st were paid a dividend of $0.6450 per share. This is a decrease from Intercontinental Hotels Group’s previous dividend of $1.2590. This represents a yield of 81.0%. The ex-dividend date of this dividend was Friday, August 21st.

Hedge Funds Weigh In On Intercontinental Hotels Group

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in shares of Intercontinental Hotels Group by 2.2% in the 3rd quarter. Versant Capital Management Inc now owns 3,420 shares of the company’s stock valued at $550,000 after acquiring an additional 72 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Intercontinental Hotels Group by 12.1% in the second quarter. QRG Capital Management Inc. now owns 16,723 shares of the company’s stock worth $2,895,000 after purchasing an additional 1,799 shares during the period. Sequoia Financial Advisors LLC increased its stake in Intercontinental Hotels Group by 14.2% in the second quarter. Sequoia Financial Advisors LLC now owns 3,759 shares of the company’s stock valued at $651,000 after purchasing an additional 467 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Intercontinental Hotels Group in the second quarter valued at $82,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Intercontinental Hotels Group by 9.1% during the second quarter. NewEdge Advisors LLC now owns 8,950 shares of the company’s stock valued at $1,549,000 after purchasing an additional 743 shares during the period. 15.09% of the stock is owned by institutional investors and hedge funds.

About Intercontinental Hotels Group

(Get Free Report)

InterContinental Hotels Group PLC (NYSE: IHG), commonly known as IHG Hotels & Resorts, is a global hospitality company that operates, manages, franchises and licenses hotels and resorts. Its portfolio serves a broad range of travelers, from luxury and lifestyle guests to business and value-oriented customers.

IHG’s brand family includes InterContinental, Regent Hotels & Resorts, Six Senses, Kimpton, Vignette Collection, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels, Atwell Suites and Garner Hotel.

Further Reading

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