Intercontinental Hotels Group (NYSE:IHG) Hits New 52-Week High – Here’s Why

Intercontinental Hotels Group (NYSE:IHG) shares reached a new 52-week high on Friday . The stock traded as high as $145.04 and last traded at $144.0310, with a volume of 94690 shares changing hands. The stock had previously closed at $143.09.

Wall Street Analyst Weigh In

A number of analysts recently commented on IHG shares. Berenberg Bank raised Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Jefferies Financial Group raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Intercontinental Hotels Group Stock Up 0.7%

The stock has a fifty day moving average price of $138.50 and a two-hundred day moving average price of $128.04.

Institutional Trading of Intercontinental Hotels Group

Several institutional investors have recently made changes to their positions in IHG. SBI Securities Co. Ltd. lifted its position in shares of Intercontinental Hotels Group by 20.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 439 shares of the company’s stock valued at $62,000 after purchasing an additional 76 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Intercontinental Hotels Group by 0.9% during the 4th quarter. Independent Advisor Alliance now owns 10,577 shares of the company’s stock worth $1,490,000 after buying an additional 91 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Intercontinental Hotels Group by 72.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock worth $30,000 after buying an additional 91 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Intercontinental Hotels Group by 0.8% in the fourth quarter. HighTower Advisors LLC now owns 12,734 shares of the company’s stock valued at $1,793,000 after acquiring an additional 95 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Intercontinental Hotels Group by 1.3% during the second quarter. Osaic Holdings Inc. now owns 7,216 shares of the company’s stock valued at $827,000 after acquiring an additional 96 shares during the last quarter. 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.