InterContinental Hotels Group (NYSE:IHG) Coverage Initiated by Analysts at Citigroup

Citigroup assumed coverage on shares of InterContinental Hotels Group (NYSE:IHG) in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage issued a sell rating on the stock.

A number of other analysts have also recently weighed in on IHG. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, InterContinental Hotels Group presently has a consensus rating of “Hold”.

InterContinental Hotels Group Trading Down 0.1 %

Shares of InterContinental Hotels Group stock opened at $124.09 on Monday. InterContinental Hotels Group has a 52 week low of $91.57 and a 52 week high of $137.25. The stock has a market cap of $19.67 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.32. The company’s 50-day moving average price is $128.67 and its two-hundred day moving average price is $117.78.

Institutional Trading of InterContinental Hotels Group

Several hedge funds and other institutional investors have recently modified their holdings of IHG. Allspring Global Investments Holdings LLC raised its position in InterContinental Hotels Group by 22.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,807 shares of the company’s stock valued at $200,000 after acquiring an additional 330 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of InterContinental Hotels Group during the 3rd quarter worth about $1,699,000. QRG Capital Management Inc. raised its stake in shares of InterContinental Hotels Group by 0.6% in the 3rd quarter. QRG Capital Management Inc. now owns 27,660 shares of the company’s stock valued at $3,056,000 after acquiring an additional 152 shares in the last quarter. Assetmark Inc. grew its holdings in InterContinental Hotels Group by 130.9% during the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after purchasing an additional 436 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of InterContinental Hotels Group by 86.6% in the third quarter. Crossmark Global Holdings Inc. now owns 32,392 shares of the company’s stock valued at $3,579,000 after purchasing an additional 15,031 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

About InterContinental Hotels Group

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.