Intercontinental Hotels Group (NYSE:IHG) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Intercontinental Hotels Group (NYSE:IHG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $128.04 and traded as high as $143.45. Intercontinental Hotels Group shares last traded at $142.8350, with a volume of 167,642 shares traded.

Analysts Set New Price Targets

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

Intercontinental Hotels Group Trading Down 0.1%

The stock has a 50-day simple moving average of $138.50 and a two-hundred day simple moving average of $128.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in Intercontinental Hotels Group by 228.2% during the 1st quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock valued at $531,000 after purchasing an additional 3,368 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Intercontinental Hotels Group by 2.5% during the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after purchasing an additional 16,461 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Intercontinental Hotels Group during the second quarter valued at approximately $292,000. Janney Montgomery Scott LLC increased its holdings in Intercontinental Hotels Group by 43.1% during the second quarter. Janney Montgomery Scott LLC now owns 3,600 shares of the company’s stock valued at $415,000 after buying an additional 1,084 shares during the period. Finally, Callan Family Office LLC lifted its holdings in Intercontinental Hotels Group by 51.2% during the second quarter. Callan Family Office LLC now owns 9,068 shares of the company’s stock worth $1,046,000 after buying an additional 3,071 shares during the period. 15.09% of the stock is currently owned by 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.