Intercontinental Hotels Group (NYSE:IHG) Sets New 1-Year High – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG) shares reached a new 52-week high on Wednesday . The company traded as high as $174.28 and last traded at $174.4780, with a volume of 41978 shares traded. The stock had previously closed at $170.88.

Analysts Set New Price Targets

Several analysts have recently commented on IHG shares. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. Sanford C. Bernstein raised their price target on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Hotels Group presently has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Intercontinental Hotels Group Stock Up 2.0%

The business’s fifty day simple moving average is $153.92 and its 200-day simple moving average is $143.62.

Institutional Investors Weigh In On Intercontinental Hotels Group

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its stake in Intercontinental Hotels Group by 20.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 439 shares of the company’s stock worth $62,000 after acquiring an additional 76 shares during the last quarter. Compound Planning Inc. boosted its holdings in shares of Intercontinental Hotels Group by 5.4% in the 1st quarter. Compound Planning Inc. now owns 1,694 shares of the company’s stock worth $226,000 after purchasing an additional 87 shares during the period. Independent Advisor Alliance boosted its holdings in shares of Intercontinental Hotels Group by 0.9% in the 4th quarter. Independent Advisor Alliance now owns 10,577 shares of the company’s stock worth $1,490,000 after purchasing an additional 91 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Intercontinental Hotels Group by 72.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after purchasing an additional 91 shares during the last quarter. Finally, Capital International Investors raised its holdings in Intercontinental Hotels Group by 2.5% during the 4th quarter. Capital International Investors now owns 3,838 shares of the company’s stock valued at $544,000 after buying an additional 92 shares during the period. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.