Intercontinental Hotels Group (NYSE:IHG) Hits New 52-Week High – Should You Buy?

Shares of Intercontinental Hotels Group (NYSE:IHG) reached a new 52-week high during trading on Wednesday. The company traded as high as $176.00 and last traded at $175.73, with a volume of 229,326 shares. The stock had previously closed at $170.20.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IHG shares. Bank of America restated a “buy” rating on shares of Intercontinental Hotels Group in a research report on Thursday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st. Zacks Research raised Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, UBS Group upgraded Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 target price on the stock in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Hotels Group currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Intercontinental Hotels Group Price Performance

The stock’s 50 day simple moving average is $161.23 and its 200 day simple moving average is $152.53.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, October 1st. Investors of record on Friday, August 21st were issued a $0.6450 dividend. The ex-dividend date was Friday, August 21st. This is a negative change from Intercontinental Hotels Group’s previous dividend of $1.2590. This represents a dividend yield of 81.0%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Intercontinental Hotels Group by 55.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock valued at $54,261,000 after acquiring an additional 145,360 shares in the last quarter. ABC Arbitrage SA boosted its position in Intercontinental Hotels Group by 31.0% during the 1st quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock valued at $17,918,000 after acquiring an additional 31,754 shares in the last quarter. Quantinno Capital Management LP boosted its position in Intercontinental Hotels Group by 25.0% during the 1st quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock valued at $12,448,000 after acquiring an additional 18,631 shares in the last quarter. Renaissance Technologies LLC boosted its position in Intercontinental Hotels Group by 198.5% during the 1st quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock valued at $8,088,000 after acquiring an additional 40,300 shares in the last quarter. Finally, Gradient Investments LLC boosted its position in Intercontinental Hotels Group by 4.2% during the 2nd quarter. Gradient Investments LLC now owns 38,964 shares of the company’s stock valued at $6,745,000 after acquiring an additional 1,560 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC (NYSE: IHG) is a global hospitality company that owns, manages, franchises and licenses a portfolio of hotel brands. Its brands include InterContinental, Regent, Six Senses, Kimpton, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels and Garner.

IHG serves business and leisure travelers across a broad range of lodging segments, from luxury and lifestyle hotels to full-service, upscale, midscale and extended-stay accommodations.