InterContinental Hotels Group (NYSE:IHG) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

InterContinental Hotels Group PLC (NYSE:IHG)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $111.09 and traded as high as $123.44. InterContinental Hotels Group shares last traded at $122.74, with a volume of 104,988 shares.

Analyst Ratings Changes

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

InterContinental Hotels Group Price Performance

The stock has a market cap of $19.46 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.88 and a beta of 1.33. The stock’s 50 day simple moving average is $123.31 and its two-hundred day simple moving average is $111.13.

Hedge Funds Weigh In On InterContinental Hotels Group

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of InterContinental Hotels Group by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock worth $1,337,000 after buying an additional 106 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in InterContinental Hotels Group by 226.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,477 shares of the company’s stock worth $156,000 after acquiring an additional 1,025 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of InterContinental Hotels Group by 7.2% during the 2nd quarter. Ballentine Partners LLC now owns 2,303 shares of the company’s stock worth $244,000 after acquiring an additional 154 shares in the last quarter. AdvisorShares Investments LLC lifted its position in shares of InterContinental Hotels Group by 73.0% in the second quarter. AdvisorShares Investments LLC now owns 1,583 shares of the company’s stock worth $164,000 after purchasing an additional 668 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of InterContinental Hotels Group by 6.3% in the second quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock worth $6,179,000 after purchasing an additional 3,431 shares in the last quarter. Institutional investors own 15.09% of the company’s stock.

InterContinental Hotels Group Company Profile

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.