Moors & Cabot Inc. lessened its stake in Intercontinental Hotels Group (NYSE:IHG) by 11.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,687 shares of the company’s stock after selling 613 shares during the quarter. Moors & Cabot Inc.’s holdings in Intercontinental Hotels Group were worth $261,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Citigroup Inc. lifted its holdings in Intercontinental Hotels Group by 21.6% during the 2nd quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after purchasing an additional 322 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Intercontinental Hotels Group during the 2nd quarter valued at $233,000. Dynamic Technology Lab Private Ltd acquired a new stake in Intercontinental Hotels Group during the 1st quarter valued at $207,000. Gotham Asset Management LLC acquired a new stake in Intercontinental Hotels Group during the 2nd quarter valued at $308,000. Finally, CIBC World Markets Inc. lifted its holdings in Intercontinental Hotels Group by 9.6% during the 2nd quarter. CIBC World Markets Inc. now owns 6,208 shares of the company’s stock valued at $345,000 after purchasing an additional 546 shares during the last quarter. 6.70% of the stock is owned by institutional investors and hedge funds.
Shares of Intercontinental Hotels Group (IHG) traded up 0.53% during midday trading on Friday, reaching $54.70. The company’s stock had a trading volume of 172,307 shares. The firm has a 50-day moving average of $51.25 and a 200-day moving average of $53.69. Intercontinental Hotels Group has a one year low of $39.84 and a one year high of $57.80. The stock has a market cap of $10.72 billion, a PE ratio of 24.53 and a beta of 1.37.
The firm also recently disclosed a special dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 1st were given a $0.33 dividend. The ex-dividend date was Wednesday, August 30th.
Several equities research analysts have issued reports on IHG shares. Zacks Investment Research raised Intercontinental Hotels Group from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub downgraded Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Credit Suisse Group downgraded Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a report on Monday, June 19th. They noted that the move was a valuation call. Morgan Stanley downgraded Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Thursday, June 15th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Intercontinental Hotels Group in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Intercontinental Hotels Group currently has a consensus rating of “Hold” and a consensus price target of $44.00.
Intercontinental Hotels Group Company Profile
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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