InterContinental Hotels Group (NYSE:IHG) Reaches New 52-Week High – Here’s Why

InterContinental Hotels Group PLC (NYSE:IHG)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $126.94 and last traded at $126.62, with a volume of 4885 shares traded. The stock had previously closed at $125.70.

Analysts Set New Price Targets

A number of research firms have recently commented on IHG. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, InterContinental Hotels Group has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Up 0.2 %

The business has a 50 day simple moving average of $114.21 and a 200 day simple moving average of $106.06.

Institutional Investors Weigh In On InterContinental Hotels Group

A number of large investors have recently made changes to their positions in IHG. FMR LLC lifted its holdings in shares of InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after purchasing an additional 351,723 shares during the period. World Investment Advisors LLC purchased a new stake in shares of InterContinental Hotels Group in the third quarter worth about $86,000. Bank of Montreal Can acquired a new stake in InterContinental Hotels Group during the second quarter worth about $3,892,000. Natixis Advisors LLC raised its position in InterContinental Hotels Group by 2.8% during the second quarter. Natixis Advisors LLC now owns 736,042 shares of the company’s stock valued at $77,984,000 after acquiring an additional 20,280 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in InterContinental Hotels Group in the 3rd quarter worth approximately $1,699,000. 15.09% of the stock is owned by hedge funds and other institutional investors.

About InterContinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.