Meridian Wealth Management LLC Has $262,000 Stock Position in InterContinental Hotels Group PLC (NYSE:IHG)

Meridian Wealth Management LLC boosted its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 13.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,371 shares of the company’s stock after buying an additional 288 shares during the period. Meridian Wealth Management LLC’s holdings in InterContinental Hotels Group were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IHG. King Luther Capital Management Corp lifted its position in shares of InterContinental Hotels Group by 13.7% in the 3rd quarter. King Luther Capital Management Corp now owns 2,449 shares of the company’s stock valued at $271,000 after acquiring an additional 296 shares in the last quarter. MQS Management LLC acquired a new stake in InterContinental Hotels Group during the 3rd quarter valued at $399,000. Crossmark Global Holdings Inc. lifted its holdings in shares of InterContinental Hotels Group by 86.6% in the third quarter. Crossmark Global Holdings Inc. now owns 32,392 shares of the company’s stock valued at $3,579,000 after purchasing an additional 15,031 shares in the last quarter. Assetmark Inc. boosted its position in shares of InterContinental Hotels Group by 130.9% in the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock worth $85,000 after buying an additional 436 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in shares of InterContinental Hotels Group by 0.6% during the third 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. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

InterContinental Hotels Group Price Performance

IHG opened at $125.28 on Tuesday. InterContinental Hotels Group PLC has a 1 year low of $77.84 and a 1 year high of $125.70. The stock has a fifty day moving average price of $114.21 and a 200 day moving average price of $106.06.

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.