InterContinental Hotels Group (NYSE:IHG) Share Price Crosses Above 200 Day Moving Average – What’s Next?

InterContinental Hotels Group PLC (NYSE:IHG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $112.18 and traded as high as $127.86. InterContinental Hotels Group shares last traded at $126.77, with a volume of 159,453 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Finally, Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, InterContinental Hotels Group currently has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

The stock has a 50 day moving average price of $125.08 and a 200 day moving average price of $112.34.

Hedge Funds Weigh In On InterContinental Hotels Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted 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 valued at $1,337,000 after purchasing an additional 106 shares during the last quarter. QRG Capital Management Inc. increased its position in InterContinental Hotels Group by 0.6% during the 3rd quarter. QRG Capital Management Inc. now owns 27,660 shares of the company’s stock valued at $3,056,000 after buying an additional 152 shares in the last quarter. Ballentine Partners LLC raised its stake in InterContinental Hotels Group by 7.1% during the fourth quarter. Ballentine Partners LLC now owns 2,344 shares of the company’s stock valued at $293,000 after buying an additional 156 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in InterContinental Hotels Group by 1.6% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 11,485 shares of the company’s stock worth $1,269,000 after acquiring an additional 177 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of InterContinental Hotels Group by 3.2% during the third quarter. MML Investors Services LLC now owns 6,792 shares of the company’s stock valued at $750,000 after acquiring an additional 212 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.