Intercontinental Hotels Group (NYSE:IHG) Reaches New 52-Week High – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG)’s share price hit a new 52-week high on Thursday . The stock traded as high as $142.55 and last traded at $141.7760, with a volume of 241868 shares. The stock had previously closed at $140.41.

Analysts Set New Price Targets

Several brokerages have commented on IHG. Wall Street Zen downgraded Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Jefferies Financial Group raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Morgan Stanley raised shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upgraded shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Intercontinental Hotels Group Stock Up 1.7%

The stock has a fifty day simple moving average of $129.44 and a two-hundred day simple moving average of $122.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC increased its stake in Intercontinental Hotels Group by 4.9% in the third quarter. CIBC Private Wealth Group LLC now owns 350,648 shares of the company’s stock valued at $42,520,000 after purchasing an additional 16,278 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Intercontinental Hotels Group in the 3rd quarter valued at about $42,374,000. Captrust Financial Advisors increased its position in Intercontinental Hotels Group by 5.7% in the 3rd quarter. Captrust Financial Advisors now owns 17,692 shares of the company’s stock valued at $2,145,000 after buying an additional 947 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in Intercontinental Hotels Group during the 3rd quarter worth approximately $238,000. Finally, NewEdge Advisors LLC boosted its holdings in Intercontinental Hotels Group by 1.9% in the third quarter. NewEdge Advisors LLC now owns 9,066 shares of the company’s stock worth $1,099,000 after acquiring an additional 171 shares in the last quarter. 15.09% of the stock is owned by institutional investors.

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.