InterContinental Hotels Group (NYSE:IHG) Sees Unusually-High Trading Volume – Still a Buy?

Shares of InterContinental Hotels Group PLC (NYSE:IHG) saw strong trading volume on Thursday . 300,068 shares changed hands during mid-day trading, an increase of 99% from the previous session’s volume of 150,571 shares.The stock last traded at $127.47 and had previously closed at $129.54.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

The stock’s 50-day moving average is $128.77 and its 200-day moving average is $116.94.

Institutional Trading of InterContinental Hotels Group

Institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after purchasing an additional 351,723 shares in the last quarter. Raymond James Financial Inc. acquired a new position in InterContinental Hotels Group in the fourth quarter valued at about $13,796,000. ABC Arbitrage SA acquired a new stake in shares of InterContinental Hotels Group in the 4th quarter valued at approximately $11,846,000. Arrowstreet Capital Limited Partnership raised its position in shares of InterContinental Hotels Group by 241.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the company’s stock valued at $15,965,000 after acquiring an additional 90,339 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in shares of InterContinental Hotels Group in the 3rd quarter valued at approximately $86,000. 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.