Intercontinental Hotels Group (NYSE:IHG) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $151.34 and traded as high as $165.65. Intercontinental Hotels Group shares last traded at $163.0150, with a volume of 194,858 shares trading hands.

Analyst Ratings Changes

IHG has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Sanford C. Bernstein lifted their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Finally, Zacks Research cut Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.50.

Intercontinental Hotels Group Price Performance

The company’s fifty day moving average is $162.80 and its two-hundred day moving average is $151.34.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, August 21st will be paid a $0.645 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a dividend yield of 81.0%.

Institutional Investors Weigh In On Intercontinental Hotels Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LP increased its position in shares of Intercontinental Hotels Group by 254.6% during the second quarter. Corient Private Wealth LP now owns 11,436 shares of the company’s stock worth $1,980,000 after acquiring an additional 8,211 shares during the period. TD Waterhouse Canada Inc. grew its stake in Intercontinental Hotels Group by 179.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 16,306 shares of the company’s stock worth $2,747,000 after purchasing an additional 10,476 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Intercontinental Hotels Group during the 2nd quarter worth about $3,259,000. Gradient Investments LLC increased its holdings in Intercontinental Hotels Group by 4.2% during the 2nd 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 period. Finally, Baron Wealth Management LLC acquired a new stake in Intercontinental Hotels Group in the 2nd quarter valued at about $236,000. 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.