Intercontinental Hotels Group (NYSE:IHG) Hits New 52-Week High – Here’s What Happened

Shares of Intercontinental Hotels Group (NYSE:IHG) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $150.25 and last traded at $150.84, with a volume of 90000 shares trading hands. The stock had previously closed at $145.73.

Analyst Ratings Changes

Several analysts have weighed in on IHG shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. Berenberg Bank upgraded Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Jefferies Financial Group raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Finally, Wall Street Zen lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Intercontinental Hotels Group Stock Up 0.3%

The business’s 50 day simple moving average is $139.36 and its 200-day simple moving average is $128.88.

Institutional Investors Weigh In On Intercontinental Hotels Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in Intercontinental Hotels Group by 228.2% during the first quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock worth $531,000 after buying an additional 3,368 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Intercontinental Hotels Group by 2.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after acquiring an additional 16,461 shares during the period. Janney Montgomery Scott LLC boosted its stake in Intercontinental Hotels Group by 43.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,600 shares of the company’s stock worth $415,000 after acquiring an additional 1,084 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Intercontinental Hotels Group by 12.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,533 shares of the company’s stock valued at $1,346,000 after purchasing an additional 1,281 shares during the period. Finally, Atria Wealth Solutions Inc. increased its stake in Intercontinental Hotels Group by 50.2% in the second quarter. Atria Wealth Solutions Inc. now owns 5,215 shares of the company’s stock valued at $601,000 after purchasing an additional 1,744 shares in the last quarter. Institutional investors own 15.09% of the company’s stock.

About Intercontinental Hotels Group

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.