Scotia Capital Inc. Sells 24,022 Shares of Intercontinental Hotels Group $IHG

Scotia Capital Inc. reduced its stake in Intercontinental Hotels Group (NYSE:IHG) by 66.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,269 shares of the company’s stock after selling 24,022 shares during the period. Scotia Capital Inc.’s holdings in Intercontinental Hotels Group were worth $1,415,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Intercontinental Hotels Group by 125.7% in the second quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock worth $52,113,000 after purchasing an additional 251,647 shares during the last quarter. Millennium Management LLC grew its holdings in Intercontinental Hotels Group by 170.5% in the 1st quarter. Millennium Management LLC now owns 305,177 shares of the company’s stock worth $33,444,000 after acquiring an additional 192,342 shares during the last quarter. ABC Arbitrage SA purchased a new position in shares of Intercontinental Hotels Group in the second quarter valued at about $11,987,000. Cubist Systematic Strategies LLC bought a new position in shares of Intercontinental Hotels Group during the first quarter valued at about $6,203,000. Finally, Goldman Sachs Group Inc. boosted its holdings 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 worth $73,310,000 after purchasing an additional 16,461 shares during the period. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday, September 26th. Wall Street Zen lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Morgan Stanley raised shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Intercontinental Hotels Group Stock Performance

IHG opened at $132.51 on Tuesday. Intercontinental Hotels Group has a 52 week low of $94.78 and a 52 week high of $137.25. The business has a 50 day moving average of $125.16 and a 200-day moving average of $120.79.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.