InterContinental Hotels Group (NYSE:IHG) Downgraded by Morgan Stanley to “Underweight”

InterContinental Hotels Group (NYSE:IHG) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other analysts have also commented on IHG. The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold”.

InterContinental Hotels Group Stock Up 0.2 %

Shares of IHG stock opened at $122.88 on Wednesday. The company has a 50 day moving average price of $123.68 and a 200-day moving average price of $111.41. InterContinental Hotels Group has a 52 week low of $90.62 and a 52 week high of $131.68. The firm has a market capitalization of $19.48 billion, a PE ratio of 24.48, a P/E/G ratio of 1.88 and a beta of 1.32.

Hedge Funds Weigh In On InterContinental Hotels Group

Several large investors have recently added to or reduced their stakes in IHG. Assetmark Inc. lifted its holdings in InterContinental Hotels Group by 130.9% during the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after purchasing an additional 436 shares in the last quarter. World Investment Advisors LLC purchased a new position in InterContinental Hotels Group during the third quarter valued at approximately $86,000. Transamerica Financial Advisors Inc. lifted its holdings in InterContinental Hotels Group by 100,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock valued at $111,000 after purchasing an additional 1,001 shares in the last quarter. AdvisorShares Investments LLC lifted its holdings in InterContinental Hotels Group by 73.0% during the second quarter. AdvisorShares Investments LLC now owns 1,583 shares of the company’s stock valued at $164,000 after purchasing an additional 668 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in InterContinental Hotels Group by 40.7% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the company’s stock valued at $182,000 after purchasing an additional 422 shares in the last quarter. Hedge funds and other 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.