Intercontinental Hotels Group (NYSE:IHG) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $157.53 and traded as high as $171.99. Intercontinental Hotels Group shares last traded at $171.2460, with a volume of 285,139 shares traded.

Key Intercontinental Hotels Group News

Here are the key news stories impacting Intercontinental Hotels Group this week:

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. Jefferies Financial Group lifted their price target on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, June 26th. UBS Group raised Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Wednesday, September 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Friday, August 21st. Finally, Bank of America reaffirmed a “buy” rating on shares of Intercontinental Hotels Group in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Hotels Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

View Our Latest Stock Report on IHG

Intercontinental Hotels Group Price Performance

The stock’s 50-day moving average price is $160.06 and its 200-day moving average price is $157.77.

Intercontinental Hotels Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, August 21st were paid a dividend of $0.6450 per share. This is a drop from Intercontinental Hotels Group’s previous dividend of $1.2590. The ex-dividend date was Friday, August 21st. This represents a yield of 81.0%.

Institutional Trading of Intercontinental Hotels Group

Several large investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its stake in Intercontinental Hotels Group by 55.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock valued at $54,261,000 after acquiring an additional 145,360 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Intercontinental Hotels Group by 198.5% in the 1st quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock valued at $8,088,000 after purchasing an additional 40,300 shares during the last quarter. ABC Arbitrage SA raised its holdings in shares of Intercontinental Hotels Group by 31.0% during the 1st quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock worth $17,918,000 after buying an additional 31,754 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Intercontinental Hotels Group during the 2nd quarter worth $3,259,000. Finally, Quantinno Capital Management LP lifted its position in shares of Intercontinental Hotels Group by 25.0% during the 1st quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock worth $12,448,000 after buying an additional 18,631 shares during the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

Intercontinental Hotels Group Company Profile

(Get Free Report)

InterContinental Hotels Group PLC (NYSE: IHG) is a global hospitality company that owns, manages, franchises and licenses a portfolio of hotel brands. Its brands include InterContinental, Regent, Six Senses, Kimpton, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels and Garner.

IHG serves business and leisure travelers across a broad range of lodging segments, from luxury and lifestyle hotels to full-service, upscale, midscale and extended-stay accommodations.

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