Goldman Sachs Group Inc. Sells 5,384 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Goldman Sachs Group Inc. cut its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 626,573 shares of the company’s stock after selling 5,384 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.38% of InterContinental Hotels Group worth $57,131,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Barometer Capital Management Inc. bought a new position in InterContinental Hotels Group during the 4th quarter valued at about $119,000. Strategic Global Advisors LLC bought a new position in shares of InterContinental Hotels Group in the fourth quarter valued at approximately $217,000. Lake Street Advisors Group LLC acquired a new position in shares of InterContinental Hotels Group in the 4th quarter worth approximately $237,000. CIBC Private Wealth Group LLC grew its position in InterContinental Hotels Group by 41.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock worth $57,546,000 after acquiring an additional 185,045 shares during the last quarter. Finally, Scotia Capital Inc. increased its holdings in InterContinental Hotels Group by 259.2% during the 4th quarter. Scotia Capital Inc. now owns 36,567 shares of the company’s stock valued at $3,334,000 after purchasing an additional 26,386 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Analysts Set New Price Targets

IHG has been the topic of several research analyst reports. StockNews.com cut InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Sanford C. Bernstein lowered shares of InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a report on Wednesday, March 13th. Finally, Jefferies Financial Group downgraded shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

Shares of NYSE:IHG opened at $105.07 on Wednesday. InterContinental Hotels Group PLC has a 1-year low of $67.09 and a 1-year high of $112.08. The business has a 50-day moving average price of $100.43 and a two-hundred day moving average price of $98.50.

InterContinental Hotels Group 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.