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

Intercontinental Hotels Group (NYSE:IHG) shares reached a new 52-week high during trading on Thursday . The company traded as high as $173.38 and last traded at $170.8740, with a volume of 304994 shares trading hands. The stock had previously closed at $170.50.

Wall Street Analysts Forecast Growth

IHG has been the subject of a number of research analyst reports. Sanford C. Bernstein raised their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research note on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Hotels Group presently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Intercontinental Hotels Group Stock Performance

The stock has a 50 day simple moving average of $151.40 and a 200-day simple moving average of $142.60.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in shares of Intercontinental Hotels Group by 4.7% in the 1st quarter. NewEdge Advisors LLC now owns 8,207 shares of the company’s stock worth $1,095,000 after purchasing an additional 369 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of 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 purchasing an additional 18,631 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Intercontinental Hotels Group by 198.5% in the 1st quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock worth $8,088,000 after purchasing an additional 40,300 shares in the last quarter. Compound Planning Inc. increased its holdings in shares of Intercontinental Hotels Group by 5.4% in the 1st quarter. Compound Planning Inc. now owns 1,694 shares of the company’s stock worth $226,000 after purchasing an additional 87 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Intercontinental Hotels Group by 55.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock worth $54,261,000 after purchasing an additional 145,360 shares in the last quarter. Hedge funds and other 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.