HSBC initiated coverage on shares of InterContinental Hotels Group PLC (NYSE:IHG) in a report issued on Monday. The firm issued a reduce rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup Inc. restated a neutral rating on shares of InterContinental Hotels Group PLC in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. cut shares of InterContinental Hotels Group PLC from a buy rating to a neutral rating in a report on Tuesday, June 21st. Zacks Investment Research upgraded shares of InterContinental Hotels Group PLC from a strong sell rating to a hold rating in a report on Thursday, August 4th. Finally, Beaufort Securities restated a buy rating on shares of InterContinental Hotels Group PLC in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. InterContinental Hotels Group PLC currently has an average rating of Hold and a consensus price target of GBX 50 ($0.65).

InterContinental Hotels Group PLC (NYSE:IHG) opened at 42.75 on Monday. The company has a 50-day moving average of $43.20 and a 200-day moving average of $42.85. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 8.68 and a beta of 1.28. InterContinental Hotels Group PLC has a 52 week low of $34.63 and a 52 week high of $50.58.

The firm also recently disclosed a dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 2nd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, August 31st.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investment Centers of America Inc. raised its position in InterContinental Hotels Group PLC by 138.6% in the second quarter. Investment Centers of America Inc. now owns 26,249 shares of the company’s stock worth $984,000 after buying an additional 15,249 shares during the period. Bellwether Investment Group LLC purchased a new position in InterContinental Hotels Group PLC during the second quarter worth $104,000. Stifel Financial Corp purchased a new position in InterContinental Hotels Group PLC during the second quarter worth $261,000. Stevens Capital Management LP purchased a new position in InterContinental Hotels Group PLC during the second quarter worth $834,000. Finally, Freestone Capital Holdings LLC raised its position in InterContinental Hotels Group PLC by 5.8% in the second quarter. Freestone Capital Holdings LLC now owns 95,720 shares of the company’s stock worth $3,590,000 after buying an additional 5,215 shares during the last quarter. 5.63% of the stock is currently owned by hedge funds and other institutional investors.

About InterContinental Hotels Group PLC

InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.

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