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

Intercontinental Hotels Group (NYSE:IHG)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $152.67 and traded as high as $155.47. Intercontinental Hotels Group shares last traded at $153.2340, with a volume of 113,075 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on IHG. UBS Group upgraded Intercontinental Hotels Group from a “neutral” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Wednesday, September 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. Zacks Research raised Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. Finally, Jefferies Financial Group raised their price target on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Intercontinental Hotels Group Price Performance

The firm’s fifty day simple moving average is $158.60 and its 200-day simple moving average is $152.67.

Intercontinental Hotels Group Cuts Dividend

The business also recently disclosed 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 dividend yield of 81.0%. The ex-dividend date is Friday, August 21st.

Institutional Investors Weigh In On Intercontinental Hotels Group

Large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its stake in Intercontinental Hotels Group by 55.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock valued at $54,261,000 after purchasing an additional 145,360 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Intercontinental Hotels Group by 198.5% in the 1st quarter. Renaissance Technologies LLC now owns 60,600 shares of the company’s stock worth $8,088,000 after buying an additional 40,300 shares during the last quarter. ABC Arbitrage SA boosted its stake in Intercontinental Hotels Group by 31.0% in the 1st quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock worth $17,918,000 after buying an additional 31,754 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Intercontinental Hotels Group in the 2nd quarter valued at about $3,259,000. Finally, Quantinno Capital Management LP increased its stake in shares of Intercontinental Hotels Group by 25.0% during the 1st quarter. Quantinno Capital Management LP now owns 93,268 shares of the company’s stock valued at $12,448,000 after acquiring an additional 18,631 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC (NYSE: IHG), commonly known as IHG Hotels & Resorts, is a global hospitality company that develops, manages, franchises and licenses hotels and resorts. Its portfolio spans luxury, upscale, midscale and extended-stay segments, serving business and leisure travelers in markets around the world.

IHG’s brand portfolio includes InterContinental, Regent, Six Senses, Vignette Collection, Kimpton, Hotel Indigo, voco, Crowne Plaza, Holiday Inn, Holiday Inn Express, Garner, avid hotels, Candlewood Suites and Staybridge Suites.