Intercontinental Hotels Group (NYSE:IHG) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $128.04 and traded as high as $143.45. Intercontinental Hotels Group shares last traded at $142.8350, with a volume of 167,642 shares changing hands.

Wall Street Analysts Forecast Growth

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

Intercontinental Hotels Group Trading Down 0.1%

The firm’s 50-day moving average price is $138.50 and its 200-day moving average price is $128.04.

Hedge Funds Weigh In On Intercontinental Hotels Group

Several large investors have recently modified their holdings of the stock. CCLA Investment Management bought a new stake in Intercontinental Hotels Group in the fourth quarter worth $114,306,000. Goldman Sachs Group Inc. raised its stake in shares of Intercontinental Hotels Group by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after acquiring an additional 16,461 shares during the period. Bank of America Corp DE lifted its holdings in shares of Intercontinental Hotels Group by 0.8% in the 3rd quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock worth $60,835,000 after acquiring an additional 4,080 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Intercontinental Hotels Group by 29.5% during the 3rd quarter. Lazard Asset Management LLC now owns 460,897 shares of the company’s stock worth $55,888,000 after purchasing an additional 105,034 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Intercontinental Hotels Group by 125.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after purchasing an additional 251,647 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.