InterContinental Hotels Group (NYSE:IHG) Shares Gap Down to $64.14

Shares of InterContinental Hotels Group PLC (NYSE:IHG) gapped down before the market opened on Wednesday . The stock had previously closed at $64.14, but opened at $62.59. InterContinental Hotels Group shares last traded at $62.41, with a volume of 697 shares traded.

Several research analysts have commented on IHG shares. Societe Generale raised InterContinental Hotels Group from a “hold” rating to a “buy” rating in a report on Monday, August 30th. UBS Group raised InterContinental Hotels Group from a “sell” rating to a “neutral” rating in a report on Friday, July 16th. Peel Hunt raised InterContinental Hotels Group from a “reduce” rating to a “hold” rating in a report on Thursday, August 19th. Citigroup reaffirmed a “neutral” rating on shares of InterContinental Hotels Group in a report on Monday, August 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of InterContinental Hotels Group in a report on Wednesday, August 11th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, InterContinental Hotels Group presently has an average rating of “Hold” and a consensus price target of $72.00.

The business has a 50 day moving average of $64.38 and a two-hundred day moving average of $68.22. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 206.90 and a beta of 1.29.

Hedge funds have recently bought and sold shares of the stock. Avalon Investment & Advisory raised its stake in InterContinental Hotels Group by 4.2% during the 1st quarter. Avalon Investment & Advisory now owns 39,447 shares of the company’s stock worth $2,718,000 after buying an additional 1,578 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in InterContinental Hotels Group by 3.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,245 shares of the company’s stock worth $568,000 after purchasing an additional 303 shares in the last quarter. Northern Trust Corp increased its holdings in InterContinental Hotels Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 178,436 shares of the company’s stock worth $12,294,000 after purchasing an additional 3,139 shares in the last quarter. Geode Capital Management LLC increased its holdings in InterContinental Hotels Group by 8.6% during the 1st quarter. Geode Capital Management LLC now owns 7,895 shares of the company’s stock worth $543,000 after purchasing an additional 622 shares in the last quarter. Finally, Henry James International Management Inc. increased its holdings in InterContinental Hotels Group by 0.8% during the 2nd quarter. Henry James International Management Inc. now owns 102,261 shares of the company’s stock worth $6,820,000 after purchasing an additional 828 shares in the last quarter. 3.60% of the stock is currently owned by institutional investors and hedge funds.

InterContinental Hotels Group Company Profile (NYSE:IHG)

InterContinental Hotels Group Plc owns and operates hotels. The firm’s hotel brands include: InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, EVEN Hotels, IHG Rewards Club, Kimpton and HUALUXE Hotels and Resorts. It operates through the following segments: Europe, Middle East, Asia and Africa, Americas, Greater China and Central.

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