Intercontinental Hotels Group (NYSE:IHG) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Intercontinental Hotels Group (NYSE:IHG)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $150.45 and traded as high as $163.00. Intercontinental Hotels Group shares last traded at $161.5050, with a volume of 132,743 shares.

Analyst Ratings Changes

A number of research firms recently commented on IHG. Jefferies Financial Group lifted their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Zacks Research lowered shares of Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Sanford C. Bernstein lifted their price objective on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research note on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.50.

Intercontinental Hotels Group Trading Up 0.0%

The firm has a 50-day moving average of $163.48 and a two-hundred day moving average of $150.61.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 21st will be given a dividend of $0.645 per share. This represents a yield of 81.0%. The ex-dividend date is Friday, August 21st.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IHG. Lord Abbett & CO. LLC purchased a new stake in shares of Intercontinental Hotels Group in the fourth quarter valued at approximately $26,758,000. Lazard Asset Management LLC lifted its position in shares of Intercontinental Hotels Group by 98.4% during the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock valued at $41,044,000 after buying an additional 176,502 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Intercontinental Hotels Group by 55.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock valued at $54,261,000 after acquiring an additional 145,360 shares during the period. Marshall Wace LLP increased its holdings in Intercontinental Hotels Group by 63.1% in the 3rd quarter. Marshall Wace LLP now owns 281,557 shares of the company’s stock worth $34,142,000 after acquiring an additional 108,935 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in Intercontinental Hotels Group by 137.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,489 shares of the company’s stock worth $15,512,000 after acquiring an additional 77,883 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

About Intercontinental Hotels Group

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.