Park Avenue Securities LLC Purchases Shares of 2,112 InterContinental Hotels Group PLC (NYSE:IHG)

Park Avenue Securities LLC bought a new stake in InterContinental Hotels Group PLC (NYSE:IHG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,112 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its holdings in InterContinental Hotels Group by 41.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock valued at $57,546,000 after acquiring an additional 185,045 shares during the period. Natixis Advisors L.P. lifted its stake in shares of InterContinental Hotels Group by 7.0% in the 4th quarter. Natixis Advisors L.P. now owns 617,076 shares of the company’s stock valued at $56,265,000 after purchasing an additional 40,358 shares during the period. Royal Bank of Canada boosted its holdings in InterContinental Hotels Group by 2.1% during the third quarter. Royal Bank of Canada now owns 617,029 shares of the company’s stock worth $46,123,000 after buying an additional 12,902 shares in the last quarter. Raymond James & Associates grew its position in InterContinental Hotels Group by 0.5% during the fourth quarter. Raymond James & Associates now owns 103,041 shares of the company’s stock valued at $9,395,000 after buying an additional 486 shares during the period. Finally, LPL Financial LLC increased its holdings in InterContinental Hotels Group by 474.8% in the third quarter. LPL Financial LLC now owns 64,546 shares of the company’s stock valued at $4,825,000 after buying an additional 53,316 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Jefferies Financial Group lowered InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Sanford C. Bernstein downgraded InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, InterContinental Hotels Group has an average rating of “Hold”.

InterContinental Hotels Group Stock Up 0.5 %

Shares of InterContinental Hotels Group stock opened at $104.24 on Wednesday. InterContinental Hotels Group PLC has a twelve month low of $67.09 and a twelve month high of $112.08. The firm’s 50-day moving average price is $101.82 and its 200 day moving average price is $100.02.

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.