Intercontinental Hotels Group (NYSE:IHG) Share Price Passes Above 200-Day Moving Average – What’s Next?

Intercontinental Hotels Group (NYSE:IHG)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $127.19 and traded as high as $135.65. Intercontinental Hotels Group shares last traded at $135.3450, with a volume of 222,966 shares changing hands.

Analyst Upgrades and Downgrades

IHG has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Berenberg Bank upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Morgan Stanley raised shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, October 1st. Jefferies Financial Group raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Finally, Wall Street Zen lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Intercontinental Hotels Group Stock Down 0.8%

The stock has a 50 day moving average of $137.54 and a two-hundred day moving average of $127.19.

Institutional Trading of Intercontinental Hotels Group

A number of institutional investors and hedge funds have recently modified their holdings of IHG. Jones Financial Companies Lllp grew its stake in Intercontinental Hotels Group by 228.2% in the 1st quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock valued at $531,000 after buying an additional 3,368 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Intercontinental Hotels Group by 2.5% during the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after acquiring an additional 16,461 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Intercontinental Hotels Group in the second quarter valued at about $292,000. Park Avenue Securities LLC acquired a new stake in shares of Intercontinental Hotels Group in the second quarter valued at about $250,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Intercontinental Hotels Group by 43.1% in the second quarter. Janney Montgomery Scott LLC now owns 3,600 shares of the company’s stock worth $415,000 after purchasing an additional 1,084 shares during the period. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Company Profile

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.