Intercontinental Hotels Group (IHG) Holdings Cut by Level Four Advisory Services LLC
Level Four Advisory Services LLC trimmed its position in Intercontinental Hotels Group (NYSE:IHG) by 42.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,898 shares of the company’s stock after selling 3,608 shares during the period. Level Four Advisory Services LLC’s holdings in Intercontinental Hotels Group were worth $237,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in Intercontinental Hotels Group by 12.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 385,813 shares of the company’s stock worth $21,424,000 after purchasing an additional 42,491 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Intercontinental Hotels Group in the 2nd quarter worth about $233,000. Gotham Asset Management LLC bought a new stake in Intercontinental Hotels Group in the 2nd quarter worth about $308,000. Goldman Sachs Group Inc. grew its position in Intercontinental Hotels Group by 9.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 69,660 shares of the company’s stock worth $3,868,000 after purchasing an additional 6,079 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Intercontinental Hotels Group in the 2nd quarter worth about $509,000. 6.70% of the stock is owned by institutional investors and hedge funds.
Intercontinental Hotels Group (NYSE:IHG) traded down 0.22% on Thursday, hitting $54.20. 16,906 shares of the stock were exchanged. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 24.30 and a beta of 1.37. Intercontinental Hotels Group has a 12 month low of $39.84 and a 12 month high of $57.80. The company has a 50-day moving average of $51.80 and a 200-day moving average of $53.82.
The business also recently declared a special dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 1st were paid a $0.33 dividend. The ex-dividend date was Wednesday, August 30th.
A number of brokerages have issued reports on IHG. Zacks Investment Research raised shares of Intercontinental Hotels Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. BidaskClub downgraded shares of Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.00.
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Intercontinental Hotels Group Company Profile
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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